Fed cuts 0.25%p...Powell "I won't back down even if I press Trump"

U.S. Fed cuts interest rate by 0.25%p...2nd
after September's big cutU.S. cut narrows Korea-U.S. interest rate gap back to 1.5%p,
"Trump election will not have short-term impact on interest rate policy"

[Anchor]
At the monetary policy meeting held shortly after the U.S. presidential election, interest rates were cut again following September.

Fed Chairman Powell says he will not step down even if Trump calls for his resignation and that Trump's election will not affect interest rate policy.

This is Washington correspondent Kwon Jun-ki.

[Reporter]
The U.S. Fed cut interest rates by 0.25%p as expected.

The two consecutive cuts following the big cut in September brought the top end of interest rates down to 4.75%.

As a result, the interest rate gap with Korea has also narrowed again to 1.5%p.

At the press conference, questions were raised about the possibility of policy changes following Trump's election.

This is because there are predictions that the Fed will slow down the rate cut as high tariffs and tax cuts, which are Trump's pledges, could revive inflation.

Powell said he would not presume what is going to happen in the future and said the election results would not affect him right away.

[Jerome Powell / Chairman of the U.S. Federal Reserve: In the short term, elections will not affect our policy decisions. We don't speculate, predict, or assume.

Asked about Trump's criticism of the rate cut as election interference in September, Powell remained tight-lipped.

[Jerome Powell / Chairman of the U.S. Federal Reserve] I'm not going to talk about political issues today. But thank you.]

In the meantime, CNN quoted Trump's aides as saying that it is Trump's view to guarantee Powell's term in office.

However, due to the nature of Trump, you can change your mind at any time, the source added.

Powell said he would not step down even if Trump demanded his resignation, stressing that his term is legally guaranteed.

The New York stock market has continued to strengthen since Trump's election, with the S&P 500 and Nasdaq hitting new highs due to interest rate cuts.

This is YTN Kwon Jun-ki from Washington.

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