Powell: The government's interest rate costs are not considered in monetary policy making
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最新报道：According to Bijie.com, Federal Reserve Chairman Powell stated on Wednesday that the Fed has no room to consider the government's financing needs when setting interest rate policy. At a press conference following the FOMC meeting, Powell stated that the Fed's congressionally mandated mission is to control inflation while maintaining the strongest possible job market. He stated that given this statutory mandate, "we do not consider the fiscal needs of the federal government. No central bank in an advanced economy would do that," and such a practice would also undermine the Fed's credibility. The US government spent $1.1 trillion in interest last year, more than doubling the cost of managing government debt compared to before the COVID-19 pandemic. This is largely due to the Fed maintaining high interest rates to reduce inflation. Trump once claimed that a 3% interest rate cut would save the US $1 trillion annually.
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