Lawmakers are ‘demeaning their role’ by trying to influence the Fed, House finance chair says

Key Points

“The Fed should act in the way that the data indicates that they should act. Period,” said Rep. Patrick McHenry, R-N.C., chair of the House Financial Services Committee.
Democratic Sens. Elizabeth Warren of Massachusetts, John Hickenlooper of Colorado and Sheldon Whitehouse of Rhode Island have called for the Fed to cut its benchmark rate by three-quarters of a percentage point, which is higher than the most aggressive market expectations.
Former President Donald Trump said in an August press conference that he believes he should get a say on monetary policy if he wins in November.

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