Fed chief reasserts independence in talks with Trump

Federal Reserve Chairman Jerome Powell reasserted the independence of the US central bank during White House talks with President Donald Trump on Monday, the Fed said.

Powell attended the meeting, which comes amid an unprecedented campaign of public attacks on the central bank, at the invitation of the president, and was joined by Treasury Secretary Steven Mnuchin, the Fed said in a statement.

Trump, who has lambasted Powell in harsh, personal terms over monetary policy, tweeted that the meeting was “good & cordial,” adding that “everything was discussed” including interest rates, inflation, foreign exchange and the Fed’s balance sheet

policies.In a second tweet Monday evening, however, Trump said that during the meeting he protested “that our Fed Rate is set too high relative to the interest rates of other competitor countries.”

“Too strong a Dollar hurting manufacturers & growth!” he added.

 

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Fed chief reasserts independence in talks with Trump

Federal Reserve Chairman Jerome Powell reasserted the independence of the US central bank during White House talks with President Donald Trump on Monday, the Fed said. Powell attended the meeting, which comes amid an unprecedented campaign of public attacks on the central bank, at the invitation of the president, and was joined by Treasury Secretary Steven Mnuchin, the Fed said in a statement. Trump, who has lambasted Powell in harsh, personal terms over monetary policy, tweeted that the meeting was good cordial, adding that everything was discussed including interest rates, inflation, foreign exchange and the Feds balance sheet policies.In a second tweet Monday evening, however, Trump said that during the meeting he protested that our Fed Rate is set too high relative to the interest rates of other competitor countries. Too strong a Dollar hurting manufacturers growth! he added.