Powell says he’s not worried about the Fed losing its independence under Trump Published Wed, Dec 4 20242:52 PM ESTUpdated Wed, Dec 4 20244:02 PM EST thumbnail Jeff Cox @jeff.cox.7528 @JeffCoxCNBCcom

on interest rates. Though many presidents have tried to exert influence over the Fed, Trump was the most public about it. Still, Powell said he believes there’s strong support in Congress to keep the Fed’s decision-making apart from the political swirl in Washington. “I think there is very, very broad support for that set of ideas in Congress in both political parties on both sides of the Hill, and that’s what really matters,” he said. “It’s the law of the land, and I’m not concerned that there’s some risk that we would lose our statutory independence.” The Trump transition team did not immediately respond to a request for comment.