Powell laid down the law on Fed independence when he met with Trump, but the president didn't seem to get the message

U.S. President Donald Trump walks with his nominee for the chairman of the Federal Reserve Jerome Powell on their way to a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC during Trump's first term. (Credit: Drew Angerer—Getty Images)

• Federal Reserve Chair Jerome Powell met with President Trump and firmly reiterated the Fed’s independence, emphasizing that monetary policy decisions are based solely on economic data, not political pressure. Despite Trump’s ongoing calls to lower interest rates and past threats to fire Powell, the Fed maintained its stance that its mandate is to support maximum employment and stable prices through non-political, data-driven analysis.

When Jerome Powell was summoned to the White House, he went with a clear message: Trump has no power over the Federal Open Market Committee.