Powell dodges questions about political storm over Miran and Cook

Federal Reserve Chairman Jerome Powell avoided specifics about the controversies surrounding Fed governors Stephen Miran and Lisa Cook on Wednesday, but emphasized the Fed’s commitment to independence from outside politics.

During a press conference after the Fed announced it was cutting interest rates, Powell declined to delve into the controversy surrounding Miran, who refused to resign from his White House job while also serving at the Fed, and President Donald Trump’s push to fire Cook and replace her over accusations that she committed mortgage fraud.