The president of the federal reserve, Jerome Powell Brief declaration from the central bank.
Powell’s comments came at a meeting at the White House on Thursday “at the president’s invitation,” the Fed said in his press release, which stressed that the head of the central bank sought to defend his independence.
“President Powell has not discussed his expectations in monetary policy, except to emphasize that the path of politics will fully depend on incoming economic information and what it means for the prospects,” the statement said.
The Fed reiterated what Powell has long underlined in the face of Longtime and unprecedented pressure campaign On the central bank to reduce interest rates – “that he and his FOMC colleagues will set monetary policy, as required by law, to support maximum employment and stable prices,” said the Central Bank, referring to the Federal Open Market Committee that establishes rates.
The leaders of the Central Bank should meet from June 17 to 18 to determine their next interest rate decision.
The White House press secretary Karoline Leavitt told journalists later Thursday that Trump had transported to Powell “that he thought that the Fed chair made a mistake by not lowering interest rates, which puts us into economic disadvantage for China and other countries.” She recognized that “the president was very expressed on this subject, both publicly and now, I can also reveal in private”.
Trump, who named Powell in 2017, attacked him several times, recently calling him on social networks “an idiot, who has no idea”.
Trump’s Fed’s comments have often moved the markets. A April 17 Post social post To say that “the termination of Powell cannot come quickly enough” led to days of market disorders. The president finally fell, say five days later That he had “no intention” to dismiss Powell and “never done”, a possibility that the Supreme Court note would probably exceed presidential powers.
While the meetings between the president and the Fed chair are rare, Powell met face to face twice with Trump in 2019, during his first mandate: once on February 4 (Powell’s birthday), and again on November 18 of this year. Powell also met President Joe Biden in May 2022, After Powell was renamed to another mandate.
