Trump-Powell Meeting On? Depends on Who You Ask
(Bloomberg) -- Larry Kudlow, President Donald Trump’s top economic adviser, and Federal Reserve Chairman Jerome Powell aren’t quite on the same page about whether Powell and the president will meet to discuss interest rates.
In an interview this morning on Bloomberg Television, White House National Economic Council Director Kudlow said, “Both sides would like to have a meeting. The details have not been worked through yet.”
About 45 minutes later, Powell, in a televised panel discussion at an American Economic Association conference in Atlanta, was asked whether he’s heard from the White House on interest-rate policy and a proposed meeting with Trump.
“No, I have not,” the Fed chairman said. “I have no news for you on that.”
Powell’s comments on the panel, which also featured his predecessors Janet Yellen and Ben Bernanke, may have reduced the need for a meeting. Trump has criticized Powell and recent Fed rate increases, blaming them for a December stock-market swoon.
In Atlanta, Powell said Fed policy is flexible and the central bank is “listening carefully” to markets. The S&P 500 today rallied to a three-week high.
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