IMF chief defends Powell after Trump says Fed has 'gone crazy': CNBC


(Reuters) – International Monetary Fund Managing Director Christine Lagarde said she “would not associate” Federal Reserve Chairman Jerome Powell “with craziness” after U.S. President Donald Trump commented that the central bank, which has been raising U.S. interest rates, had “gone crazy,” CNBC reported on Thursday.

FILE PHOTO – U.S. Federal Reserve Chairman Jerome Powell holds a news conference following a two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., September 26, 2018. REUTERS/Al Drago

Powell and other policy makers are extremely serious, solid and certainly keen to base their decisions on actual information, Lagarde told CNBC in an interview, adding that central banks should remain independent in their functioning.

Reporting by Kanishka Singh in Bengaluru; Editing by Anil D’Silva

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