How Investors Should Respond to the Unexpected Meeting Between Trump and Powell
Monday morning, Federal Reserve Chair Jay Powell and President Donald Trump sat down to discuss, among other things, the economy, interest rates, and the trade war.
The meeting was not on the President's public agenda.
Afterwards, however, the President tweeted about it, saying: Just finished a very good & cordial meeting at the White House with Jay Powell of the Federal Reserve.
Everything was discused including interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, E.U.
& others, etc.
— Donald J.
Trump (@realDonaldTrump) November 18, 2019 Tony Owusu, markets reporter for TheStreet, and Steve Skancke, chief economic adviser for Keel Point, joined TheStreet to discuss the meeting.
"You couldn't find two diametrically opposed personalities, right?
Jerome Powell really comes off as a pragmatist and just like a very serious person.
Trump on the other hand, it seems kind of impetuous and it kind of goes off of what he's feeling at the time.
So I would think that Trump kind of impressed on Jerome Powell, his one and his need for the U S federal reserve dropped interest rates.
Meanwhile, Powell says, you know, we're not, we don't work for you, but we will work with you.
And I think that's probably what the meeting, kind of, what the direction of the meeting was.," said Owusu.
Watch the full video for more.
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