Topline
President Donald Trump and the U.S.’ top monetary policy decisionmaker, Federal Reserve Chairman Jerome Powell, met Thursday at Trump’s request, breaking bread after Trump’s repeated attacks on Powell over the Fed’s hesitation to lower interest rates at Trump’s request.
Trump has repeatedly gone after Powell as the Fed has declined to immediately cut interest rates as ... More
The Fed said in a statement Trump requested the meeting, the first of his second presidential term.
Powell was firm in his insistence the Fed would determine monetary policy based on economic data, as the central bank reported Powell stressed “the path of policy will depend entirely on incoming economic information and what that means for the outlook” and make policy decisions “based solely on careful, objective, and non-political analysis.”
Trump, who called Powell a “fool” earlier this month, still appears unhappy with Powell and his colleagues’ reluctance to lower rates immediately. The president’s most recent post to his Truth Social platform is an article outlining a Trump administration official’s case for Powell to lower rates.
Thursday was Powell’s first meeting with a sitting president since May 2022.
This is a breaking news story and will be updated.