Fed Chair Jerome Powell had a meeting with US President Donald Trump at the White House yesterday, together with Treasury Secretary Steven Mnuchin. Fed said in a statement that the meeting was to “discuss the economy, growth, employment and inflation.”. Powell’s comments were “consistent” with his remarks at the Congressional hearing last week. And he “did not discuss the economy, growth, employment and inflation.”
Trump said in twitter that the meeting was “very good & cordial”. “Everything was discussed including interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, E.U. & others, etc.” He also “protested” that Fed’s interest rate is “too high relative to the interest rates of other competitor countries”. And, “our rates should be lower than all others (we are the U.S.). Too strong a Dollar hurting manufacturers & growth!”
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