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Fed chair Jerome Powell testifying before the Senate earlier this year. Photo: Alex Wong via Getty Images

Federal Reserve Chairman Jerome Powell addressed President Trump's repeated attacks on the central bank on Wednesday, though not directly, when Dallas Federal Reserve President Robert Kaplan asked him about criticism from "political leaders:"

"We have a very important job that Congress has assigned us: serve the public ... That's our sole focus. We don't try to control things we don't control. We try to control the controllable. We're just trying to do our jobs, and we're doing fine."
— Federal Reserve Chairman Jerome Powell

Why it matters: President Trump has repeatedly said he is "not thrilled" with the Fed for raising interest rates, breaking a long-time precedent of Presidents not publicly commenting on monetary policy. Powell has never responded directly to the attacks, except to reiterate the importance of a politically independent central bank.

Go deeper

Senate Republicans shrug off debt default deadline

Treasury Secretary Janet Yellen testifies before House members Wednesday. Photo: Al Drago/Bloomberg via Getty Images

Senate Republicans are feeling far more relaxed about the impending Dec. 15 federal debt-default deadline this time around, with many suggesting the real drop-dead date isn't until January.

Why it matters: Their attitude toward the deadline set by Treasury Secretary Janet Yellen is distinctively different from the hair-on-fire rhetoric before the initial Oct. 18 date. But a Congress discounting the advice of a Treasury secretary is risky financial practice — and has the potential to affect markets itself.

GOP fights itself on shutting down government over vaccine mandates

Reporters question Senate Minority Whip John Thune before the Republican Party's weekly lunch on Tuesday. Photo: Kent Nishimura/Los Angeles Times via Getty Images

GOP leaders on Capitol Hill are scrambling to reach a deal with a bloc of 15 Senate Republicans threatening a government shutdown to force a fight over the Biden administration's vaccine mandates.

Why it matters: The push to defund the mandates — by holding the short-term government funding bill hostageis largely symbolic, and highly controversial within the Republican Party. A shutdown as early as midnight Friday could trigger everything from national park closures to delays in receiving Social Security checks.

Progressives call for swift Boebert punishment

Reps. Alexandria Ocasio-Cortez and Cori Bush (far right) walk through the Capitol last month. Photo: Kent Nishimura/Los Angeles Times via Getty Images

House progressives are seeking concrete punishment for Rep. Lauren Boebert (R-Colo.) as retribution for her incendiary remarks against one of their own, Rep. Ilhan Omar (D-Minn.).

Why it matters: House Democratic leaders continue to consider their options amid the latest ugly incident in their chamber. Republicans are already threatening retaliation after Democrats stripped Rep. Marjorie Taylor Greene (R-Ga.) of her committee assignments and censured Rep. Paul Gosar (R-Ariz.).