Washington: U.S. President Donald Trump and Fed Chairman Jerome Powell dined at the White House on Monday in their first meeting after months in which Trump lambasted the central bank for raising interest rates and, in the president's view, endangering the economy's growth. Powell's statements to the president, the Fed said, were all consistent with remarks made at a press conference after the Fed's meeting last week. The dinner was held "at the President's invitation...to discuss recent economic developments and the outlook for growth, employment and inflation." "Chair Powell said that he and his colleagues...will make those decisions based solely on careful, objective and non-political analysis." Fed chairs routinely meet with the Treasury secretary, but sessions with the president are less frequent: Monday's dinner is the first session between Trump and Powell since the Fed chair took over a year ago.

Source: Mint February 05, 2019 06:11 UTC