Jerome Powell

Fed says chair Jerome Powell had dinner with Trump

U.S. President Donald Trump looks on as Federal Reserve Jerome Powell takes to the podium during a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC.
Photo by Drew Angerer/Getty Images

Federal Reserve Chair Jerome Powell had an "informal dinner" with President Trump, Treasury Secretary Steven Mnuchin and Fed Vice Chair Richard Clarida on Monday night to discuss "recent economic developments and the outlook for growth, employment and inflation," according to a statement released by the Fed.

Jerome Powell finally gets a ringing endorsement

Data: Bespoke Investment Group; Chart: Chris Canipe/Axios

Jerome Powell finally got the markets on his side. The S&P 500 fell after each of his first seven FOMC meetings as chairman (by far the longest on record), but the market jolted higher on Wednesday.

One big quote: "The big pivot in FOMC communication was not just the introduction of the word ‘patient,’ but also the removal of forward guidance explicitly signaling that the next change [will be a rate increase]," said Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets.

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