Federal Reserve Chairman Jerome Powell spoke to members of the press after the Fed announced a 0.25% interest rate hike on Wednesday. This marks the fourth interest rate hike this year.
President Trump warned the Fed not to do so in a tweet earlier this week, blaming them for saying they should not "make yet another mistake"
"Political considerations play no role whatsoever in our discussions or decisions about monetary policy. We're always going to be focused on the mission that Congress has given us," Powell said about criticism from the White House. "We have the tools to carry it about, we have the independence that we think is essential to be able to do our jobs in a non-political way. We at the Fed are absolutely committed to that mission and nothing will deter us from doing what we think is the right thing to do."