Federal Reserve's Unyielding Stance Amidst Election Uncertainties

Federal Reserve Chairman Jerome Powell declared that the central bank's policies remain unaffected by the recent election results. Despite expectations of deficit expansion and inflationary pressure under former President Trump's return, Powell emphasized the Fed's independent policy-making and resistance to speculative forecasting.

Federal Reserve Chairman Jerome Powell made it clear that the central bank's policies will remain unaffected by the outcome of this week's election. In a press conference following a Fed meeting that led to an anticipated rate cut, Powell stated, "In the near term, the election will have no effects on our policy decisions."

Powell emphasized the Federal Reserve's commitment to policy decisions without conjecture or assumptions regarding future government actions. Despite former President Donald Trump's return to office, which is likely to lead to increased deficits and inflationary pressures, the Fed maintains its independent stance.

Reassuring stakeholders, Powell said, "We don't guess, speculate, and we don't assume." The message underlines the Fed's strong position on retaining control over economic measures irrespective of political developments.

(With inputs from agencies.)