Katie Porter thanks the Fed presidency for attending Jeff Bezos’ “sumptuous” party

The new Californian Democratic legislator pushed Powell that those who attended the black tie event in Washington could have benefited financially by gaining access to Powell and prompting him to change the way the Fed sets interest rate policy . Bezos, Ivanka Trump, Jared Kushner, Kellyanne Conway and JP Morgan (JPM) CEO Jamie Dimon was among those present at the Bezos home.
“Can you imagine how attending a sumptuous party in Jeff Bezos’ $ 23 million home – together with Jared and Ivanka and JPMorgan Chase’s CEO, Jamie Dimon – could give the public an idea that they are not, in actually, immune to external pressure? “Porter asked Powell during a hearing of the House Financial Services Committee.

“I would certainly hope not,” said Powell.

In response to Porter’s question of what Powell discussed with Bezos, Trump, Kushner, Conway and Dimon at the party, Powell said he did not speak to any of these individuals. Instead, Powell said he was there to escort his son and daughter-in-law, who are just married, and introduced the couple to General James Mattis, Trump’s former defense secretary.

“I would suggest that participation in this type of event with this type of people is incompatible with what I would otherwise recommend,” said Porter.

Congressman Warren Davidson came to defend Powell at the three-hour hearing, where the Fed president delivered his semi-annual testimony to Congress.

“I don’t know we want to say it just because you’re somehow a nefarious event,” said Davidson, a Republican from Ohio, noting that lawmakers also participate in these events. “The way these things are connected for political reasons is embarrassingly partisan and bad.”

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