Federal Reserve Chairman Jerome Powell told President Donald Trump that monetary policy decisions “depend only on careful, objective and non -political analysis” A brief statement from the central bank Thursday.
The Federal Reserve said in his statement, which confirmed that the head of the Central Bank sought to defend the independence of the Foundation that Powell’s comments came in a meeting he attended in the White House on Thursday “by inviting the president.”
The statement said: “President Powell did not discuss his expectations for monetary policy, with the exception of asserting that the path of policy will depend entirely on the economic information received and what this means for expectations.”
The Federal Reserve has repeated what Powell has long confirmed in the face of the unprecedented Trump campaign that urges the central bank to reduce interest rates-that “he and his FOMC colleagues will specify monetary policy, as required by law, to support the utmost employment and stable prices,” in reference to the Federal Open Market Committee.
The central bank leaders are scheduled to meet from June 17 to 18 to determine the following interest rate decision.
A White House spokesman did not immediately respond to a request for comment.
Trump, who nominated Powell for his role at the top of the Federal Reserve in 2017, has repeatedly attacked the president of the Central Bank, and recently criticized him on social media as “a fool, has no idea.”
Trump’s comments often move in the Federal Reserve Markets. The truth is on April 17, social mail Saying that “ending Powell cannot come at a speed enough” that led to days of the market turmoil. The president finally retreated, He says after five days He had no “intention” to launch Powell and “he never did”, a possibility that the Supreme Court had recently noticed the presidential authorities.
While the meetings between the President and the President of the Federal Reserve are rare, Powell met a face twice with Trump in 2019, during his first term: once February 4 (Powell’s birthday), and again November 18 From that year. He also met Powell with President Biden in May 2022After resetting the Federal Reserve Chair for another period.
