The President of the Central Bank of the United States (FED), Jerome Powell, met today at the White House at the invitation of President Donald Trump. The meeting addressed major economic developments such as economic growth, employment, and inflation.
In the official statement made by the FED, it was noted that Powell did not share any expectations regarding monetary policy during the meeting, emphasizing that the policy to be followed will depend entirely on the incoming economic data and the impact of these data on the economic outlook.
Powell also stated that he and his colleagues in the Federal Open Market Committee (FOMC) would determine monetary policy in a way that supports maximum employment and price stability, as required by their legal obligations. The FED Chairman added that all decisions would be based on careful, objective analyses free from political influences.
Donald Trump does not like Powell’s high interest rate policy and has stated several times that he planned to remove Powell for this reason, but later denied having such a plan. Trump continues to pressure Powell to lower interest rates.
*It is not investment advice.
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