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US Federal Reserve (FED) Chairman Jerome Powell met with President Donald Trump at the White House today. The meeting discussed major economic developments such as economic growth, employment and inflation.
In the official statement made by the FED, it was stated that Powell did not share any expectations regarding monetary policy at the meeting, but only emphasized that the policy to be followed will depend entirely on the incoming economic data and the effects of these data on the economic outlook.
Powell also stated that he and his colleagues on the Federal Open Market Committee (FOMC) will determine monetary policy in a way that supports maximum employment and price stability, as required by law. The Fed Chairman added that all decisions will be based on careful, objective and politically neutral analysis.
Donald Trump does not like Powell’s policy of high interest rates and has said on several occasions that he plans to fire Powell because of it, but has since denied that he has any such plans. Trump continues to pressure Powell to lower interest rates.
*This is not investment advice.
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