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The Wall Street Journal: Yellen: Partisan politics plays ‘no role’ in Fed decisions

Reuters

Federal Reserve Chairman Janet Yellen

WASHINGTON—Federal Reserve Chairwoman Janet Yellen on Wednesday dismissed suggestions from Republican presidential nominee Donald Trump that the Fed is playing politics with its interest-rate decisions.

Yellen, referring to prepared notes and not mentioning Trump by name, said the Fed doesn’t discuss politics at its policy meetings, nor does it take politics into account. Its decision to hold rates steady on Wednesday was based on economic factors, not political ones, she said.

“I can say, emphatically that partisan politics plays no role in our decisions about the appropriate stance of monetary policy,” she said. “We are trying to decide what the best policy is to foster price stability and maximum employment and to manage the variety of risks that we see is affecting the outlook.

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