Continuity at the Fed: Macklem's Assurance

Bank of Canada Governor Tiff Macklem has assured that the culture of the United States Federal Reserve will remain unchanged under its incoming chairman. His comments came during a testimony before the House of Commons on Monday.

Macklem addressed concerns about the potential loss of the Fed's independence as current Chairman Jerome Powell's term concludes on May 15. He stated, "I believe that the culture and the comportment of the Fed will continue as it has in the past."

The continuity of the Fed's traditions and operations remains a critical focus as the leadership transition approaches.

(With inputs from agencies.)