Rep. Patrick McHenry, R-N.C., sharply criticized other politicians on Tuesday for making public comments about what the Federal Reserve should do with its interest rate policy.
McHenry, the outgoing chair of the House Financial Services Committee, said it was an '"outrage" that some politicians are publicly lobbying the central bank about rate cuts.
"Senators that are trying to direct the Fed on rate policy are really demeaning their role.
McHenry's comments came one day before the U.S. central bank is widely expected to start cutting interest rates for the first time since 2020.
Coming in the middle of a presidential election cycle, the change in Fed policy has stirred speculation as to whether the central bank would be influenced by political considerations.
Persons:
Patrick McHenry, Kevin McCarthy, McHenry, …, Jerome Powell, Joe Biden, Democratic Sens, Elizabeth Warren of, John Hickenlooper of, Sheldon Whitehouse, Warren, Whitehouse, Trump, Sen, Mike Lee, Trump's
Organizations:
Rep, U.S, Capitol, Federal, Financial Services, Senators, United, Trump, Democratic, Fed, Republicans, Georgetown University's Psaros, Financial Markets
Locations:
R, Washington, United States, U.S, Elizabeth Warren of Massachusetts, John Hickenlooper of Colorado, Rhode, Utah