US Federal Reserve chairman Jay Powell (right) and other officials have vociferously denied that they react to political pressure from US President Donald Trump. Photo: Reuters

China’s central bank’s lack of independence less of an issue amid Donald Trump’s clashes with Fed

  • The US president has attempted to place pressure on the US Federal Reserve, but chairman Jay Powell has defended its political independence
  • The People’s Bank of China reports to the State Council, therefore its policies are dependent on direction from the government
Topic |   China economy

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US Federal Reserve chairman Jay Powell (right) and other officials have vociferously denied that they react to political pressure from US President Donald Trump. Photo: Reuters
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