Powell's Fed role crucial in 2024 election amid interest rate speculations

Amidst ongoing speculations regarding interest rate decisions, Jerome Powell, who has been appointed as the Federal Reserve Chair by both Trump and Biden, continues to uphold the Fed's apolitical stance. In a recent hearing, when queried by Rep. Patrick McHenry about potential rate cuts, Powell's response underscored the Fed's focus on economic indicators: "really, it will depend on the economy."