Trump meets with the Federal Reserve chairman he has repeatedly scorned

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON AP President Donald Trump met with Federal Reserve Chair Jerome Powell on Thursday and the two discussed the economic system but not Powell s outlook for interest rates the Fed disclosed Related Articles California avocado growers say Mexican imports have helped their sales Trump s push to save coal faces a new hurdle his own transaction war Federal judge extends order blocking Trump administration ban on foreign students at Harvard US is leaving open the possibility of a troop drawdown in South Korea What happens to Trump s tariffs now that a court has knocked them down Powell described Trump that the central bank would make decisions about the short-term interest rate it controls based solely on careful objective and non-political analysis The Fed s rate typically influences borrowing costs across the economic activity including for mortgages car loans and business borrowing The meeting comes as Trump has assailed Powell for not reducing the Fed s key interest rate calling him Too Late Powell The president initiated the meeting the Fed noted Trump argues that there is no inflation and so Powell should cut rates though such a move might not necessarily reduce the borrowing costs consumers face Inflation is down substantially from a year ago yet it remains above the Fed s target The meeting is the first during Trump s second term though the two met and had lunch together in his first term Fed chairs regularly meet with Treasury secretaries but less often with presidents given that the Fed s interest rate decisions are intended to be separate from political concerns