According to Reuters, Federal Reserve Chairman Jerome Powell said the U.S. central bank is “insulated from short-term political pressures,” and that its policymakers are wrestling with whether to cut interest rates as President Donald Trump has demanded. Powell said that “The Fed is insulated from short-term political pressures -what is often referred to as our ‘independence." Powell added that he and his colleagues are “grappling” with whether current risks to the economy warrant a rate cut.