Federal Reserve Chairman Jerome Powell met with President Trump astatine the White House connected Thursday to sermon economical maturation and different goals, the cardinal slope said successful a statement.
The meeting, which came astatine Mr. Trump's invitation, comes aft the president has repeatedly pressed Mr. Powell to little the Fed's benchmark rate. Mr. Trump earlier this period called Mr. Powell a "fool" for acting "too late" successful cutting rates.
At the meeting, Powell told the president that the Fed volition marque its decisions based connected "careful, objective, and non-political analysis," according to the statement. Powell did not sermon actions helium expects to take, the Fed said.
Powell did, however, bespeak that "the way of argumentation volition beryllium wholly connected incoming economical accusation and what that means for the outlook," the cardinal slope added.
He besides stressed that monetary argumentation volition enactment "maximum employment and unchangeable prices," referring to the Fed's dual mandate of keeping unemployment and ostentation low.
—This is breaking quality and volition beryllium updated.
Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering tiny business, workplace, wellness care, user spending and idiosyncratic concern topics. She regularly appears connected CBS News 24/7 to sermon her reporting.
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