Federal Reserve Chairman Jerome Powell affirmed the Fed's 'patient approach' to future interest-rate changes. Follow our live analysis of his testimony.
Jerome Powell's predecessor, Janet Yellen, was in the news this week for some pointed criticism of President Trump. In a, Ms. Yellen said she didn't think the president understood the mission of the Fed.
Asked if she thought the president understood economic policy in a broad sesne, Ms. Yellen said, "No, I do not," and added, “I doubt that Mr. Trump would even be able to say that the Fed’s goals are maximum employment and price stability,” which are official goals prescribed by Congress. Although Ms. Yellen is no longer at the Fed, the interview speaks to the tensions between Fed officials and the White House right now.
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