02:32 PM EDT, 05/29/2025 (MT Newswires) -- Federal Reserve Chairman Jerome Powell (voter) met with President Donald Trump, telling Trump that the Federal Open Market Committee will make policy decisions "based solely on careful, objective, and non-political analysis," according to a statement released by the Fed.

Chicago Fed President Austan Goolsbee said that the FOMC could lower rates if large tariff effects can be avoided, assuming the economy remains strong and inflation under control.

Recent comments of note:

(May 28) Minutes of the May 6-7 FOMC meeting showed that participants are prepared to patient and "take a cautious approach" to monetary policy due to the uncertainty surrounding the tariffs, comments that have been echoed by Fed officials since that time.

(May 27) New York Fed President John Williams (voter) said that the Fed needs to address inflation before it becomes persistent and impacts business and consumer inflation expectations.