According to Odaily, Federal Reserve Chairman Powell has stated that the Federal Reserve's monetary policy decisions are solely based on economic data. The role of the Federal Reserve, he emphasized, is to make decisions when necessary. He further clarified that any actions taken by the Federal Reserve in terms of interest rate cuts are always justified and based on solid reasoning.
This statement underscores the Federal Reserve's commitment to data-driven decision-making in its monetary policy. It also highlights the institution's role in making crucial decisions when required, particularly in relation to interest rate adjustments. The Chairman's comments serve to reassure that any actions taken by the Federal Reserve are always backed by sound reasoning and are not arbitrary.