Federal Reserve Board Chairman Jerome Powell testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington, DC.
"The law is clear that I have a four-year term. And I fully intend to serve it," Powell told CBS television's"60 Minutes."However, Powell refused to criticize Trump or discuss private conversations with him, saying"it would not be appropriate" for him to do so. Last year, 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.
Turning toward the economy at large, Powell noted that the growth rate was expected to slow this year, but denied there was a risk of a recession.
Source: Loan Digest (loandigest.net)
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