US Pres. Trump: Discussed interest rates, dollar strength with Powell

The Federal Reserve in a statement today announced that Federal Open Market Committee (FOMC) Chairman Jerome Powell met with US President Donald Trump and Treasury Secretary Mnuchin on Monday morning to discuss the economy, employment and inflation.

Following this statement, "Just finished a very good & cordial meeting at the White House with Jay Powell of the Federal Reserve," Trump tweeted out. "Everything was discussed including interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, E.U. & others, etc."

On the other hand, the Fed said Powell did not discuss expectations for monetary policy, except to stress the path of policy will depend entirely on incoming information that bears on the outlook for the economy and noted that Powell's comments were consistent with remarks at congressional hearings last week.

Trump's comments seem to have put the greenback under bearish pressure against its rivals. As of writing, the US Dollar Index was down 0.27% on a daily basis at 97.75.