Trump Meets Powell in White House Discussion

Nov 19, 2019

Federal Reserve Chairman Jerome Powell met with his fiercest critic yesterday to discuss the economy and interest rates.

According to an Associated Press report, Powell was called to the White House by President Trump for an update on the state of the economy and the central bank’s monetary policy goals. This was the second face-to-face meeting between the men since Powell took office in February 2018, although they’ve had several telephone conversations. Treasury Secretary Steven Mnuchin participated in the meeting.

While no transcript of the meeting was released, the President and the Fed chief offered their respective analysis of what transpired. The President took to Twitter to declare, “At my meeting with Jay Powell this morning, I protested fact that our Fed Rate is set too high relative to the interest rates of other competitor countries. In fact, our rates should be lower than all others (we are the U.S.). Too strong a dollar hurting manufacturers & growth!”

Powell’s side of the meeting was encapsulated in a statement issued by the Federal Reserve.

“At the President's invitation, Chair Powell met with the President and the Treasury Secretary Monday morning at the White House to discuss the economy, growth, employment and inflation,” the statement said. “Chair Powell's comments were consistent with his remarks at his congressional hearings last week. He did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming information that bears on the outlook for the economy.

“Finally,” the statement continued, “Chair Powell said that he and his colleagues on the Federal Open Market Committee will set monetary policy, as required by law, to support maximum employment and stable prices and will make those decisions based solely on careful, objective and non-political analysis.”

While Trump appointed Powell to helm the central bank, he quickly grew dissatisfied with his performance and has aggressively criticized the Fed’s policymaking decisions. The Fed appeared to succumb to Trump’s demands for lowering interest rates by approving three rate cuts this year, although many economists believe that further cuts would not occur in the near future.

About the author

Phil Hall

Link copied

Published

Nov 19, 2019

Regulation and Compliance

Fannie Mae AI Governance Deadline Arrives Aug. 6

Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place

Fannie Mae’s artificial intelligence and machine-learning governance requirements take effect Thursday, Aug. 6, giving approved seller/servicers a final deadline to formalize how the technology is used across mortgage origination and servicing.The requirements apply when a s...

Analysis and Data

Higher Mortgage Rates Shrink Purchase Demand, Expand Buyer Leverage

Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers

Higher mortgage rates are thinning the purchase pipeline, even as lower asking prices and reduced competition give borrowers still in the market more leverage.Seasonally adjusted U.S. pending home sales totaled 322,739 during the four weeks ending July 26, their lowest level...

Sep

Dallas, TX

More from

Regulation and Compliance

Fannie Mae AI Governance Deadline Arrives Aug. 6

Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place

Regulation and Compliance

Jul 31, 2026

Condo Review Deadline Puts Lenders On The Clock

Fannie Mae and Freddie Mac will eliminate abbreviated project reviews for condo applications dated on or after Aug. 3

Regulation and Compliance

Jul 24, 2026

TRUE Releases AI Governance Guide Ahead Of Fannie Mae Deadline

Guide focuses on tracing mortgage data from borrower documents through AI validation, human review, and final LOS entry

Regulation and Compliance

Jul 22, 2026

AD Mortgage Warns Condo Eligibility Changes Could Restrict Conventional Financing

Wholesale lender cites internal loan data to urge regulators to monitor whether new condominium eligibility standards reduce access to conventional financing

Regulation and Compliance

Jul 20, 2026

CHLA Says Direct Payments Are Key To Small FHA Loans

The lender group says mortgages below $100,000 routinely lose money, while LO compensation rules could prevent federal incentives from reaching originators

Regulation and Compliance

Jul 17, 2026

Solidifi Clears FHA Certification For UAD 3.6 Integration

The appraisal management company says it is the first to complete certification for FHA’s modernized EAD platform, giving lender clients an early path toward implementation

Regulation and Compliance

Jul 16, 2026

Popular