According to BlockBeats, Federal Reserve Chairman Powell, on July 9, stated that the US economy is performing exceptionally well compared to its global counterparts.
He emphasized the independence of the Federal Reserve, describing it as a sound institutional arrangement. 'This is a choice we made as a nation, and it is a wise one,' Powell said.
The Chairman's remarks underscore the strength of the US economy and the importance of the Federal Reserve's autonomy in managing monetary policy. The Federal Reserve's independence allows it to make decisions based on economic indicators and trends, rather than political pressures or short-term considerations.
This statement comes at a time when economies worldwide are grappling with the aftermath of the global pandemic and trying to chart a course for recovery. The US economy's strong performance is a testament to the effectiveness of the policies implemented by the Federal Reserve.