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Fed Issues Statement After Powell Meets With Trump

  • #Economic conditions & trends
  • #Money
  • #United States of America
Fed Issues Statement After Powell Meets With Trump
story
MAY 30
Above: U.S. Federal Reserve Chair Jerome Powell speaks at the Thomas Laubach Research Conference on May 15, 2025 in Washington, D.C. Image copyright: Andrew Harnik/Staff/Getty Images News via Getty Images
story last updated MAY 30

The Spin

Anti-Trump narrative

The Fed obviously felt it needed to take the unprecedented step of issuing a statement because Trump used this meeting to challenge Powell's authority. The Fed had to draw a line in the sand. Even the U.S. Supreme Court, which often sides with Trump, has determined the Fed doesn't fall under Trump's firing power. He's going to have to deal with the Fed's monetary policy, even as his tariffs make it harder for the Fed to do what he wants it to do.

The New RepublicMpamag

Pro-Trump narrative

Inflation during the Biden administration did major damage to the mortgage market and the United States is at a competitive disadvantage and unable to grow freely while the Fed is holding interest rates steady. The time has come for Powell to relent and allow Trump's economy to thrive. Although the Supreme Court cut out an exception for the Fed, Trump may have no choice but to exercise his firing power and let the courts decide if it's legal.

BreitbartX

Metaculus Prediction


Public Figures

Donald Trump

Jerome Powell


The Controversies


UNLIKELYLIKELY
Status:Open
Will the US Go into Recession in 2025?
Controversy
MAY 30MAY 30

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At White House Meeting, Trump Tells Powell It’s ‘A Mistake’ Not To Cut Rates
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Feds Powell Meets Trump White House Fed Says 2025 05 29
ReutersMAY 27