Fed Chair Jerome Powell met Trump at an informal dinner meeting at the White House yesterday to discuss the economy. Treasury Secretary Steven Mnuchin and Fed Vice Chair Richard Clarida was also present. Fed said in a statement that the meeting was as Trump’s invitation. The purpose was to “discuss recent economic developments and the outlook for growth, employment and inflation.”

Powell’s comments were “consistent with his remarks at his press conference of last week.” And he “did not discuss his expectations for monetary policy”. Powell also emphasized that “the path of policy will depend entirely on incoming economic information and what that means for the outlook.”

Powell also told Trump that Fed will set monetary policy “based solely on careful, objective and non-political analysis.”

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Fed’s statement here.


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