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Both sides initially issued positive meeting readouts. But the late-night tweet more closely reflected longstanding pressure Trump has put on Powell.
Powell has been a near-constant target of pressure by the Trump administration, which looked into whether it could demote him last year.
Factory output of motor vehicles and related parts dropped 7.1% last month. Excluding the motor vehicles sector, US factory production only fell 0.1%.
Trump claimed tariffs have ‘no impact’ on Walmart. But the retailer has said it would raise prices because of the trade war.
Walmart, the largest retailer and importer of goods in the US, warned in May that it would have to increase prices because of tariffs.
The Fed also released a study showing student loan default rates in black-majority zip codes landing twice as high compared to white-majority areas.
The comments were likely draw further ire from the White House, which has demanded the independent central bank juice the economy ahead of 2020.
Former Fed Chair Alan Greenspan says there’s ‘no point’ for central banks to pivot to digital currency
Greenspan also criticized Facebook's Libra project, noting the digital coin won't have the dollar's key support from sovereign credit.
Climate events have cost the US economy more than $500 billion over the last 5 years, Fed official says
Global warming is expected to severely disrupt business operations and economic activity in the coming years.
A more timely indicator and payment distribution to households once it flashes could insulate the economy from some of the consequences of a slowdown.
The statement comes five days after the Fed signaled a pause to further cuts, leading analysts to speculate about a future rate hike.