US President Donald Trump stated in an interview with Punchbowl News that whether interest rate hikes are avoided before the election "depends in some degree on Fed Chair Powell, but not entirely on him."

When asked if Powell should avoid raising interest rates before the election, Trump told Punchbowl: "Well, it depends in some degree on him, but not entirely on him. His board members are all very political... It's not entirely up to him; it's up to the board. I think he's great, I won't criticize him."