Fed Chair Powell Meets Trump, Affirms Data-Driven, Non-Political Policy

Federal Reserve Chair Jerome Powell met with President Donald Trump at the White House to discuss the economic outlook but did not address expectations for monetary policy. Powell emphasized that Fed decisions must remain non-political and will depend entirely on incoming economic data and its implications. This meeting was highly unusual, coming amid Trump's public calls for sharp rate cuts to reduce federal debt costs. Despite the meeting, Powell maintained the Fed's stance of data-driven decision making, avoiding any policy commitments. Market reactions were muted, with the US Dollar Index falling below 100 following unrelated federal court rulings on tariffs. The Fed reiterated its independence in setting policy based on economic conditions rather than political pressure.