President Donald Trump told Federal Reserve Chair Jerome Powell at a White House meeting on May 29 that the central bank chief erred in not lowering borrowing costs, while Powell said decisions on interest rates would remain grounded in economic data and free from political influence.
According to a brief readout from the Fed, Powell did not discuss his expectations for the timing or pace of future rate cuts but said that all policy moves would be based “entirely on incoming economic information and what that means for the outlook.”
