Powell Focuses on The Federal Reserve (FED) Responsibilities, Responds to Trump's Criticism and Reelection Doubts

On July 1, at a European Central Bank event held in Portugal, someone asked Federal Reserve Chairman Powell whether President Trump's frequent personal attacks increase his work difficulties. In response, Powell said, "I only focus on doing my job well. It is important to use our tools to achieve the goals set by Congress: maximum employment, price stability, and financial stability. This is the direction we are 100% focused on." The audience, including European Central Bank President Lagarde, responded with applause. When later asked whether he would stay on at the Federal Reserve after his term ends next May, Powell stated that he had no comment on that today.