Fed’s Powell has had no contact with Trump after president said he’ll demand rates drop

Key Points

Powell’s comments came after Federal Reserve members announced they were keeping the benchmark interest rate steady.
“I’ll demand that interest rates drop immediately,” Trump said during a virtual appearance before the World Economic Forum in Davos, Switzerland last week.
“The public should be confident that we will continue to do our work as we always have, focusing on using our tools to achieve our goals and really keeping our heads down and doing our work,” Powell said Wednesday.

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