Federal Reserve Chairman Jerome Powell met with President Trump at the White House on Thursday to talk about economic growth and related objectives, according to a statement from the central bank.
The meeting, which took place at the president’s request, followed a series of public criticisms from Mr. Trump urging Powell to lower the Fed’s key interest rate. Earlier this month, Mr. Trump referred to Powell as a “fool,” accusing him of moving “too late” in adjusting rates.
During the meeting, Powell emphasized that the Fed bases its policy decisions on “careful, objective, and nonpolitical analysis,” the statement said. He did not signal any specific policy actions under consideration.
However, the Fed noted that Powell made it clear that future decisions would be shaped entirely by incoming economic data and its implications for the economic outlook.
Powell also reiterated that the Fed’s monetary policy aims to support “maximum employment and stable prices,” in line with the central bank’s dual mandate to manage both inflation and unemployment.
Earlier in the month, during a press briefing, Powell made it known that he has never asked to meet with a U.S. president and has no intention of doing so.
“There’s never a reason for me to request a meeting,” he said. “It’s always initiated by the other party.” At that time, he clarified that the current meeting had not been requested by him.
The discussion occurred amid continued uncertainty over tariffs, which has led to hesitancy in business planning and investment. On Wednesday, a U.S. trade court ruled that the administration’s wide-reaching tariffs were unlawful. Still, President Trump appears set to maintain his tariff agenda, which has already contributed to rising consumer prices as businesses pass on higher costs.
Mr. Trump has repeatedly pressured Powell to slash interest rates and even suggested removing him from his role. In a social media post on April 17, Trump wrote that Powell’s “termination cannot come fast enough.”
Powell has previously stressed the importance of the Fed’s independence from political influence, saying in December that its role is to make evidence-based decisions, regardless of the opinions of elected officials.
