Trump met with Jerome Powell today to scold him about rates. Powell stressed the Fed is staying out of politics
Source: CNN
President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, scolding him for not lowering borrowing costs. Powell maintained that any decisions won’t be based on the president’s demands.
The meeting, which comes after months of unrelenting attacks from Trump against the Fed chief, took place at the White House and was at Trump’s request.
“Chair Powell did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook,” the Fed said in its statement.
Trump has described Powell as a “fool” and “a major loser,” while also saying that the Fed chief’s termination “cannot come fast enough.” His harsh criticism of Powell is mostly centered on the central bank not lowering interest rates quickly enough for his own liking.
Read more: https://www.yahoo.com/news/trump-met-jerome-powell-today-180210584.html
If I were Powell, I'd tell Trump to go fuck himself. But that's just me.
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good to see Powell standing firm this time. Hope it lasts for a while before Trump fires him. 