Presidents can talk, but Fed won’t listen: Kashkari

FILE PHOTO: President of the Federal Reserve Bank on Minneapolis Neel Kashkari speaks during an interview in New York
FILE PHOTO: President of the Federal Reserve Bank on Minneapolis Neel Kashkari speaks during an interview in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton

April 3, 2019

By Ann Saphir

(Reuters) – Federal Reserve policymakers pay attention to economic data, not politics or the desires of politicians, when they make decisions on interest rates, Minneapolis Federal Reserve Bank President Neel Kashkari said on Wednesday.

“Presidents are free to say what they want” Kashkari said in a town hall held in Fargo, North Dakota. “I can tell you with great confidence that my colleagues and I don’t pay any attention.”

The Trump administration repeatedly has criticized the Fed for raising interest rates last year, and on Friday President Donald Trump blamed the Fed for hurting economic growth and the stock market.

(Reporting by Ann Saphir; Editing by Diane Craft)

Source link