The Globe and Mail reports in its Friday, May 30, edition that President Donald Trump met with Federal Reserve Chair Jerome Powell to discuss the economy but did not address interest rate projections. An Associated Press dispatch to The Globe reports that Mr. Powell emphasized that the Fed's decisions on short-term interest rates would be based on objective analysis. Mr. Trump has criticized Mr. Powell for not lowering rates and has called him "Too Late Powell," arguing there is "no inflation" to justify high rates, even though inflation remains above the Fed's 2-per-cent target. Mr. Trump, who has also called Mr. Powell a "fool," stated he has "no intention" of removing him, despite earlier threats, as Mr. Powell's term ends in May, 2026. The meeting is the first during Mr. Trump's second term, though the two met and had lunch together in his first term. Fed chairs regularly meet with Treasury secretaries but less often with presidents, given that the Fed's interest-rate decisions are intended to be separate from political concerns. Earlier this month, Mr. Powell said he had never requested a meeting with a president and added, "I never will," suggesting it was inappropriate given the Fed's political independence.