Federal Reserve Chairwoman Janet Yellen responded Wednesday to Donald Trump’s accusations that she has kept interest rates low to benefit President Obama and the Democratic Party, saying the central bank is not swayed by politics.
“I can say emphatically that partisan politics plays no role in our decisions about the appropriate stance of monetary policy,” Yellen said during a press conference.
“We do not discuss politics at our meetings, and we do not take politics into account in our decisions,” she added.
Trump has repeatedly said that Yellen, an Obama appointee, has politicized the Fed. He also has warned that she has inflated a bubble by maintaining low interest rates.
Yellen also said the Fed would raise rates in November if Fed officials thought that doing so was appropriate, regardless of the fact that the meeting would take place one week before Election Day.
