Powell's Presidential Meeting Stance

Federal Reserve Chair Jerome Powell addressed his past meeting with then-President Donald Trump, emphasizing its focus on the Fed's role and independence. He reiterated that he would never request a meeting with any president, safeguarding the central bank's autonomy in monetary policy decisions. Powell's comments were in response to a question regarding concerns about political influence on the Fed, particularly during the Trump administration, which saw open criticism of the Fed's interest rate policies. He clarified that the meeting with Trump was limited to a discussion of the Fed's responsibilities and operations, without delving into specific policy recommendations. He underscored the importance of the Fed's independence for long-term economic stability and credibility. Maintaining distance from political pressures allows the Fed to make objective decisions based on economic data, rather than short-term political considerations. Powell's stance emphasizes the Fed's commitment to its dual mandate of price stability and maximum employment, shielded from political influence. find the original article here: https://finance.yahoo.com/news/powell-on-meeting-with-trump-ive-never-asked-for-a-meeting-with-any-president-and-i-never-will-201905855.html