Trump Meets Powell: "Failure to Cut Rates Makes Us Lose to China!"
US President Donald Trump privately met with Federal Reserve Chairman Jerome Powell on Thursday (May 29), and Trump said that the Fed's failure to cut interest rates was a "mistake".
Reuters reported that this stance, which Trump has repeatedly expressed in public over the past few months, was reiterated by him during this face-to-face meeting. In response to Trump's public criticism, Powell has consistently remained restrained, only emphasizing that the Fed's responsibility is to ensure economic stability, not to be influenced by political factors.
According to the Fed, this meeting was held at Trump's request, and both parties discussed multiple topics including economic growth, employment, and inflation.
White House spokesperson Lavitt told reporters after the meeting that she and President Trump had both read the Fed's post-meeting statement.
"This statement is accurate," she said. "However, the president believes that Chairman Powell's decision not to cut interest rates was a mistake, putting the US at a disadvantage in its economic competition with China and other countries."
According to the Fed's statement, Powell did not disclose his specific expectations for future monetary policy during the meeting, but emphasized that the path of future policies would be entirely based on the latest economic data and guidance for the outlook.
Earlier this month, the Fed maintained interest rates unchanged at its latest monetary policy meeting, citing the need to further assess the impact of the Trump administration's latest trade policies.
Recently, several Fed officials have suggested that the current monetary policy may remain unchanged for the coming months.
Source: https://www.toutiao.com/article/1833495635100675/
Disclaimer: This article solely represents the author's personal views.