EddieJayonCrypto
30 May 25
U.S. Federal Reserve Chair Jerome Powell met with President Donald Trump to discuss economic developments but did not talk about interest rate expectations. Powell emphasized that monetary policy decisions depend on incoming economic data and are made by the Federal Open Market Committee based on ob...
Federal Reserve Chair Jerome Powell met with President Donald Trump to discuss economic developments such as growth, employment, and inflation. However, Powell did not discuss interest rate expectations during the meeting.
Powell emphasized that monetary policy decisions are based solely on incoming economic data and objective, non-political analysis conducted by the Federal Open Market Committee (FOMC). He stressed that the FOMC's decisions are made to support maximum employment and stable prices, in accordance with the law.
President Trump has openly criticized Powell for not cutting interest rates, labeling him as "Too Late Powell" and expressing frustration that other countries, including the Bank of England and China, have taken more aggressive rate cuts. Trump described communication with Powell as "like talking to a wall."
Despite these criticisms, Powell reaffirmed the Fed’s commitment to carefully analyzing economic data before making monetary policy decisions, distancing these choices from political pressures. The Fed’s stance highlights the importance of maintaining independence in guiding the U.S. economy.