Trump, Powell Meet as Fed Independence Questioned

President Donald Trump met with Federal Reserve Chair Jerome Powell at the White House to discuss the economy, with Trump urging Powell to lower interest rates and asserting there is 'no inflation,' despite official data showing a 2.3% annual increase. Powell reiterated that the Fed's monetary policy decisions will continue to be based on incoming economic data, aiming to support maximum employment and stable prices. The meeting occurred after months of criticism from Trump, who believes current rates disadvantage the U.S. globally, but he recently stated he does not intend to fire Powell. The Fed has maintained steady rates in the face of persistent inflation, sluggish growth, and uncertainty over Trump’s tariff policies, with some officials warning of potential stagflation. The encounter heightened concerns in financial markets about the Fed's independence. Both Trump and Powell affirmed their opposing positions on monetary policy and the importance of the Fed's autonomy.