Federal Reserve officials unite to defend policy independence while signaling a temporary suspension of interest rate cuts According to BlockBeats, on January 15th, several Federal Reserve officials publicly emphasized on Wednesday that it is crucial for the central bank to maintain independence in formulating monetary policy. At the same time, officials have widely expressed signals that this month's meeting may temporarily postpone interest rate cuts, citing that the US economy remains resilient, inflation levels are high, and monetary policy needs to continue to remain restrictive. In response to the subpoena issued by the US Department of Justice regarding the renovation project of the Federal Reserve headquarters building and whether the related investigation affects policy judgment, multiple officials have pointed out that political or judicial pressure should not interfere with monetary policy decisions. Minneapolis Federal Reserve Chairman Kashkari explicitly supports Powell's position, stating that the investigation essentially touches upon the issue of monetary policy independence, and stating that even if the chairman changes, the Fed will still make decisions based on data and analysis. Chicago Federal Reserve President Goolsby, Atlanta Federal Reserve President Bostic, and New York Federal Reserve President Williams also emphasized that the Federal Reserve is not subject to political interference in setting interest rates, which is crucial for maintaining long-term inflation stability. In contrast, Federal Reserve Governor Milan downplayed the impact of the investigation, believing that inflation is falling on the right track, and expressed reservations about some central bank governors publicly supporting Powell. In terms of economic prospects, except for Milan, most officials hinted that it is unlikely to cut interest rates again at the FOMC meeting in late January. Kashkari bluntly stated that given high inflation and stable economic performance, interest rates should remain unchanged at present, but conditions for a rate cut may be met later this year. The market generally expects that the Federal Reserve may not resume interest rate cuts until after June at the earliest. Bostic emphasized that policies still need to maintain restraint on economic activity, and the Federal Reserve still has a "considerable way to go" before achieving its 2% inflation target. Overall, there is a consensus within the Federal Reserve that maintaining interest rate stability in the short term is a more prudent choice until inflation further declines.