Jerome H. Powell stressed in his first meeting since the president returned to the White House that policy decisions would be “based solely on careful, objective and nonpolitical analysis.”In his first meeting since President Trump returned to the White House, Federal Reserve Chair Jerome H. Powell emphasized that policy decisions would be based on careful, objective, and nonpolitical analysis. This statement was made in response to President Trump’s recent criticism of the Fed’s decision not to lower interest rates.
The meeting, which was requested by President Trump, focused on the current state of the economy, including inflation, the labor market, and growth. However, Mr. Powell did not share his expectations for monetary policy during the meeting, stating that decisions would depend on incoming economic information and would be based on careful, objective, and nonpolitical analysis.
According to White House press secretary Karoline Leavitt, President Trump expressed his belief that the Fed was making a mistake by not lowering interest rates during the meeting. This meeting comes at a critical time for the economy, as it faces various risks stemming from President Trump’s policies. This has made the Fed’s job more challenging as they try to address the remaining pressures on prices caused by the pandemic and contain any new ones that may arise from tariffs, while also supporting a slowing labor market.
We are currently experiencing difficulties retrieving the article content. Please enable JavaScript in your browser settings. Thank you for your patience while we verify access. If you are in Reader mode, please exit and log into your Times account, or subscribe for full access to The Times. Thank you for your patience while we verify access. Already a subscriber? Log in. Want full access to The Times? Subscribe.
Source:Read More