Last year, Mr Trump angrily and very publicly denounced the Fed's"crazy" interest rate hikes, breaking with traditional reserve from presidents toward the world's most powerful central bank.
The acrimony was such that it led to talk of Mr Trump planning to fire Mr Powell, even though he was the president's nominee. Turning toward the economy at large, Mr Powell noted that the growth rate was expected to slow this year, but denied there was a risk of a recession. "This year, I expect that growth will continue to be positive and continue to be at a healthy rate," he said."Cyber risk is a constantly evolving risk. We devote very large amounts of time and resources to protect the Fed, but also to protect financial institutions and the financial markets. And private corporations do the same thing," he added.
Source: News Formal (newsformal.com)
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