Federal Reserve Chairman Jerome Powell met for dinner with President Donald Trump on Monday night, the The first time the two men have spoken since Powell was sworn in as the central bank's chief in February
Powell, who has been the target of months of criticism from the president of the central bank interest rate policy, stressed that Fed's pricing decisions would remain nonpolitical, according to a statement from the Fed.
History Still Under
But Powell, a Trump employee, did not discuss his plans for prizes, Fed said 19659004] "Chair Powell said he and his colleagues at [Fed’s rate-setting committee] will set monetary policy to support maximum employment and stable prices and will make decisions based solely on cautious, objective and non-political analysis, Fed says.
Trump, who has warned Fed rate hikes threatened economic growth, was particularly angry in December when the central bank again raised interest rates. It led to reports that the president considered shooting Powell.
But this dispute has slowed down in recent weeks, as the Fed has increasingly signaled uncertainty about the economic outlook. The central bank last week kept the interest rate unchanged and suggested it was ready to stop in its campaign of constantly hiking, by sending stocks.
Fed Chairman Richard Clarida and Secretary of State Steven Mnuchin also attended the dinner, which was scheduled "To discuss recent economic developments and prospects for growth, employment and inflation," Fed's statement said.
It is added that Powell's statements were "in line with his remarks at his press conference last week."
"He did not discuss his expectations of monetary policy, except to emphasize that the path of politics will depend entirely on incoming financial information and what it means for the prospect," Fed said.
The meeting was scheduled for Friday and lasted for an hour and a half, according to Fed Spokeswoman Michelle Smith.