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Here are the 5 most important things Fed Chair Powell talked about on Capitol Hill

BY JEFF COX - 11/13/2019

The politics of policy

Powell also faced at least two occasions where members tried to pull him into commenting on political issues.

Texas Republican Sen. Ted Cruz tried several ways to get Powell to comment on the tax plans of Democratic presidential hopefuls.

“I’m pretty reluctant to be pulled into the 2020 election, if you will forgive me,” Powell responded. “Indirectly, as you stated in your question, it’s about proposals of candidates. I honestly don’t want to get into that business.”

Earlier in the session, Virginia Democrat Rep. Don Beyer asked Powell about the relentless criticism the Fed has received from President Donald Trump, most recently during an appearance Tuesday in New York.

“We have a very careful, thoughtful process that’s been developed over decades — over a century really. That’s how we try to set interest rates,” Powell said. “We don’t consider political factors or anything like that in anything we do.”

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