Fed's Powell says central bank still has access to data it needs
Tweet
Share
E-mail
U.S. Federal Reserve Chair Jerome Powell testifies before a House Financial Services Committee hearing on "The Semiannual Monetary Policy Report to the Congress," on Capitol Hill in Washington, D.C., U.S., February 12, 2025. REUTERS/Nathan Howard
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell said Wednesday the central bank has not been cut off from any data it needs to do its work.
Speaking before a House panel as the Trump administration has been stripping government websites from various data sets, Powell he wasn't aware of losing anything the Fed needs, while saying he'd speak up if issues emerged.
Powell was also asked about outside access to critical systems the Fed and the Treasury Department use to process government payments and Powell noted access to these tools is done "very carefully."
Many observers have grown concerned about access by Elon Musk's associates, as part of the Department of Government Efficiency, to government payment systems that are critically important and historically are operated far from any political considerations.
(This story has been refiled to add Elon Musk's first name in paragraph 4)
(Reporting by Michael S. Derby, Editing by Franklin Paul and Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sicily's Catania airport restarts flights after Etna alert downgrade
- Taliban mark five years in power as aid groups warn of crisis
- Spain disregarded Ceuta warnings before migrant rush, say border workers' unions
Create E-mail Alert Related Categories
ReutersRelated Entities
Jerome PowellSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
