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
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

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
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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