Fed chair meets with Trump at the White House

19 Novembre, 2019, 12:49 | Auteur: Auguste Feret
  • Federal Reserve Powell

President Trump and Federal Reserve Chairman Jerome Powell are pictured in this combined photo.

But Trump said "everything was discussed" including interest rates, negative interest, low inflation, easing, Dollar strength and its effect on manufacturing, trade with China, the European Union and other countries.

President Trump and Federal Reserve Chair Jerome Powell huddled at the White House Monday, and the Fed announced that Powell had told the commander-in-chief that politics would play no role in its decisions on monetary policy. "& others, etc.", Trump tweeted.

Powell attended the meeting, which comes amid an unprecedented campaign of public attacks on the central bank, at the invitation of the president, and was joined by Treasury Secretary Steven Mnuchin, the Fed said in a statement.

Previous US presidents generally respected the Fed's independence.

Powell's statement said the Federal Reserve would continue to set monetary policy independently.

The Fed statement asserted Powell's comments were consistent with last week's congressional testimony and did not concern 'expectations for monetary policy, ' except to say it will depend entirely on new economic information.

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The Fed announced the meeting in a morning press release, and Trump on Twitter called the session "good & cordial", a contrast with prior statements that have included calling US central bankers "boneheads" for not cutting interest rates and labeling Powell personally as an enemy of the United States on a par with China leader Xi Jinping. Very Selfish!' he tweeted over the summer.

Trump has been highly critical of the central bank and its chair.

Less than 24 hours after that decision, Trump laid into Powell again, saying people were "VERY disappointed" in him and the Fed. No 'guts, ' no sense, no vision!

Trump has repeatedly bashed the Fed to lower rates further, even suggesting that the United States should have negative interest rates like Japan and much of Europe, a scenario that typically happens only when the economy is in a dire place.

But, after the most recent cut, Powell said last month the central bank will hold its fire for now as officials wait to see how the economy progresses.

Powell met Trump in February, and in each of the three following months the two had a brief telephone conversation.

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