Fed's Powell: We have always resisted pressure from administrations

U.S. Federal Reserve Chairman Jerome Powell stated that every administration has wanted to use the Fed's policy tools for other purposes, but the central bank has consistently refused. He added that the Fed does not want to use its policy tools to achieve goals outside its mandate. Powell noted that the Fed's independence is at risk and that it had no choice but to appeal to the courts to secure its ability to conduct monetary policy without political considerations.