Federal Reserve (Fed) Chairman Jerome Powell met with U.S. President Donald Trump on Thursday, according to a statement from Mr. Powell's office. The meeting took place against the backdrop of recent tensions between the two sides, as President Trump has repeatedly urged the Fed, particularly Mr. Powell, to lower interest rates in the U.S. since he took office.
The meeting was held at the invitation of the President.
The statement emphasized that Mr. Powell did not share expectations regarding monetary policy during the meeting. Instead, he stressed that the future direction of policy would entirely depend on newly released economic data and its impact on economic prospects.
Furthermore, Mr. Powell affirmed that he and the Federal Open Market Committee (FOMC) will set monetary policy according to their legal mandate, aimed at maximizing employment and stabilizing prices, based entirely on careful, objective, and apolitical analysis.
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