 And the chair of America's central bank is encouraged by inflation data, but he stopped short of any hints interest rates will be lowered anytime soon. Speaking at a conference in Portugal today, Jerome Powell said he wants inflation closer to the famed 2% goal before acting. He was asked today if he's concerned about Republican presidential hopeful Donald Trump wanting to rein in the Fed. Powell said that is not his focus, adding there is support on Capitol Hill for keeping central bankers independent.