Federal Reserve Updates

NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell stated on Wednesday that the central bank has not lost access to any necessary data for its operations.

During a session before a House panel, amid the Trump administration removing various data sets from government websites, Powell emphasized he is not aware of losing any information crucial for the Fed’s work and assured he would raise concerns if issues arise.

Additionally, Powell addressed questions regarding external access to the critical systems used by the Fed and the Treasury Department for processing government payments, mentioning that access to these tools is managed with extreme caution.

Concerns have been raised about the involvement of Elon Musk’s associates from the Department of Government Efficiency in accessing these essential government payment systems, which have traditionally been shielded from political influence.

(This story has been refiled to add Elon Musk’s first name in paragraph 4)