Foreign Exchange & Fixed Income

Fed's Powell works Congress as Trump stews over rate hikes

Fed's Powell works Congress as Trump stews over rate hikes

Reuters analyzed U.S. Federal Reserve Chairman Jerome Powell’s public calendar and interviewed lawmakers who have met him to show how his intensive outreach to Congress is already paying dividends – creating much-needed goodwill at a time when the Fed’s policy of gradually lifting borrowing costs has repeatedly drawn President Donald Trump’s ire. Powell logged more than 40 hours on the phone or in person with Republican and Democratic lawmakers in his first 10 months on the job – roughly the combined total from Janet Yellen and Ben Bernanke through the same point during their tenures.


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