Powell meets Trump, says monetary policy remains data-dependent

Investing.com -- Federal Reserve Chair Jerome Powell met with U.S. President Donald Trump on Thursday, according to a statement from Powell’s office. The meeting took place amid recent tensions between the two, with President Trump repeatedly urging the Fed and Powell, in particular, to reduce U.S. interest rates since his inauguration.

The meeting transpired after the President’s invitation.

The statement highlighted that Powell did not share his expectations for monetary policy during the meeting. Rather, he emphasized that the future direction of policy will be entirely dependent on incoming economic data and its implications for the economic outlook.

Further, Powell emphasized that he and the FOMC will set monetary policy, per their legal mandate, to support maximum employment and stable prices, based solely on careful, objective, and apolitical analysis.

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