Golden Finance News reported that on July 14, U.S. Federal Reserve Chair Waish said at a hearing on Tuesday that he would continue to stick to his commitment not to provide forward-looking guidance on interest rates, and the entire testimony almost did not touch on interest rate policy. Waish said the Federal Reserve is firmly committed to maintaining price stability and to pushing inflation down to its 2% target, while also emphasizing that the Federal Reserve has the policy tools needed to achieve this goal. He said, “The more we focus on our responsibilities, the more we can stay away from politics.” Waish also said that the Federal Reserve will reexamine its inflation framework to gain a deeper understanding of the factors driving inflation and what measures it can take to respond to inflation. When discussing the multiple newly established working groups at the Federal Reserve, Waish said that, for now, these working groups are still in the research and exploration stage. He noted that the relevant discussions will first take place among 19 policymakers, the whole process will remain open and transparent, and the public will be given regular updates on research results and policy thinking. Regarding balance sheet policy, Waish emphasized that the balance sheet is part of monetary policy, not just a matter of how financial markets operate. Any adjustment to balance sheet policy will be communicated, explained, and provided with sufficient time for the market to prepare in advance. When asked how he would respond if Trump tried to interfere with Federal Reserve policy, Waish replied that he would continue to fulfill his duties and insist on independently setting monetary policy. He said the Federal Reserve has already shown its commitment to policy independence and institutional reform.

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Wosh reiterates commitment to the 2% inflation target, emphasizing monetary policy independence

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