On December 4 local time, Federal Reserve Chairman Powell stated in an interview that the Federal Reserve was created by Congress to act on behalf of all Americans, without regard to politics, which is 'the law of the land.' Powell added that he is not worried that Congress will change the Fed's independence and opposed suggestions that the president should comment on interest rate policy.
Regarding the U.S. economy, Powell stated that the inflation rate is declining, the unemployment rate is relatively low, and the current situation is 'very good.' Powell noted that the U.S. economy is stronger than expected in September, allowing the central bank to be more cautious when cutting interest rates. When asked about the national debt issue, Powell stated that the U.S. federal budget is on an 'unsustainable path' and needs to be addressed soon.