NOVEMBER 25, 2019 – TRUMP AND POWELL MEET IN A SLOW DATA WEEK
In the run up to the Thanksgiving holiday, there was little economic data to report. However, on Monday, Fed Chair Powell had a private meeting with President Trump and Treasury Secretary Mnuchin to discuss a variety of issues, including growth, employment trends and inflation.
It was reported, Powell’s statements were consistent with his remarks at his congressional hearings the week prior. He stresses the path of policy will depend entirely on incoming information that bears on the outlook of the economy. The FOMC will set monetary policy, as required by law, to support maximum employment and stable prices. The decisions will be made solely on careful, objective and non-political analysis.