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Lawmakers typically have more tools to reduce debt when the economy is in a solid place. But recent legislation has taken it the opposite direction.
The comments were likely draw further ire from the White House, which has demanded the independent central bank juice the economy ahead of 2020.
Fed officials are worried Trump’s trade war will disrupt the strongest parts of the US economy, minutes show
Policymakers have become split over how to address signs of strain on a still solid American economy.
The move followed weeks of volatility in money markets, which had raised concerns about the lending system.
Jerome Powell held calls with the CEOs of JPMorgan and Citigroup the day after the Fed cut rates for the first time since 2008
Powell spoke with JPMorgan's Jamie Dimon for seven minutes and Citigroup's Michael Corbat for 15 minutes on the morning of August 1.
This week marked the first time the central bank has taken such steps since the global financial crisis 10 years ago.
The Fed cuts rates for 2nd time since financial crisis — but defies Trump’s calls for ‘big’ stimulus
The move was broadly in line with expectations but far from the aggressive stimulus President Donald Trump has demanded in recent weeks.
The latest attacks on Powell came as the trade war between the US and China entered a new phase, raising political risks for the president.
Trump lashes out after Fed chief Powell signals the central bank won’t cut rates as much as White House wants
With Fed officials divided on whether to further lower interest rates, investors hung onto every word Powell said Friday.
The minutes followed a particularly harsh string of President Trump's attacks on the Federal Reserve.