MNI BRIEF: BOC Says Trump Attacks On Powell Are A Mkt Concern

Bank of Canada Governor Tiff Macklem said Tuesday President Donald Trump's attacks on Federal Reserve Chair Jerome Powell are a concern because the U.S. central bank has been doing a good job managing the economy based on the evidence at hand instead of politics.

“Chairman Powell is doing a very good job under very trying circumstances,” Macklem said at a press conference after a speech in Saskatoon, Saskatchewan. History shows independent central banks deliver better economic performance and "independence gives central banks the space to take difficult decisions that keep inflation low and benefit the economy,” Macklem said. (MNI INTERVIEW: Fed Right To Remain Cautious On Rate Cuts-Kohn) “There is a concern in the market” around such questions, he said.