Federal Reserve: Powell Meets with Trump at the White House, but No Discussion on Monetary Policy Expectations

The Federal Reserve stated that at the invitation of the U.S. President, Federal Reserve Chairman Powell met with the President at the White House today to discuss economic developments, including growth, employment, and inflation. Powell did not discuss his expectations for monetary policy, only emphasizing that the policy path will be entirely dependent on upcoming economic information and its implications for the outlook. Finally, Powell stated that he and his colleagues on the Federal Open Market Committee will formulate monetary policy as required by law to support maximum employment and stable prices, and these decisions will be made based on careful, objective, and non-political analysis. (Jin10)