Trump, Powell meet at the White House

President Donald Trump met Federal Reserve Chair Jerome Powell yesterday for the first time since his return to the White House.

The two discussed economic growth, jobs, and inflation, but the president also told the central banker that not lowering interest rates would be a big mistake.

Trump has pushed for lower rates, arguing they would help the US compete with China. 

Powell, sticking to his usual playbook, did not discuss the monetary policy outlook and stressed that decisions would rely on incoming economic data and be based on “careful, objective and non-political analysis.”

Markets expect the Fed to hold rates steady through summer, possibly cutting again by year-end if economic uncertainty continues.