No Contact Between Powell and Trump on Rates

Federal Reserve Chair Jerome Powell clarified during a recent press briefing that he has not engaged in any discussions with President Donald Trump regarding interest rates. This statement came after the Federal Reserve announced its decision to keep rates unchanged.

"I've had no contact," Powell stated firmly, emphasizing the independence of the Federal Reserve from political influence. He further added, "It's not appropriate for me to comment on the President's statements. Our focus remains on utilizing our tools to achieve our economic goals, ensuring we serve the public's best interest by maintaining our independence and dedication to our work."

Trump's Call for Lower Interest Rates

This clarification follows President Trump's recent remarks in Davos, where he urged for an immediate reduction in interest rates both in the United States and globally. Trump's demand highlights the ongoing tension between his administration and the Federal Reserve over monetary policy decisions.