Powell says Fed is wrestling with whether to cut rates, insulated from politics
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NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers wrestle with whether to cut rates as President Donald Trump has demanded."The Fed is insulated from short-term political pressures -what is often referred to as our 'independence,'" Powell said in a speech he delivered at the Council on Foreign Relations in New York. "Congress chose to insulate the Fed this way because it had seen..