WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement in response to President Trump’s harsh criticism of the Federal Reserve for raising interest rates in an interview today with CNBC.
“Presidents should respect the independence of the Federal Reserve,” said Brown. “I asked Chair Powell under oath at his nomination hearing if he would maintain that independence and he assured the Senate that he would. I take him at his word.”
Below is Senator Brown’s question to then Fed Chair nominee Powell on independence of the Federal Reserve (57 minute mark):