SINGAPORE (Aug 30): The US Federal Reserve has responded to the suggestion that it wade into presidential politics the only way it could: with a forceful denial. “The Fed’s decisions are guided solely by its congressional mandate to maintain price stability and maximum employment,” says a spokeswoman. “Political considerations play absolutely no role.”

The statement is admirably direct. Still, it is not enough. Chairman Jerome Powell has no choice but to speak out to defend the Fed.

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