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Getty Images President Donald Trump
President Donald Trump on Monday met with Federal Reserve Chairman Jerome Powell on the economy, and suggested he’ll testify in writing as House Democrats press on with their impeachment probe.
POWELL MEETING
Powell met with Trump at the president’s request, but the Fed said Powell gave no hints or promises about what the central bank will do next.
Trump, as MarketWatch reports, has repeatedly criticized the Fed and Powell for not cutting interest rates fast enough when the economy weakened earlier this year. But he called the face-to-face meeting “good & cordial,” in a tweet. The president said he and Powell discussed interest rates, the effect of the strength of the U.S. dollar DXY, -0.21% on manufacturing and other topics.
See: Trump meets with Fed boss Powell to talk economy in wake of White House criticism.
POSSIBLE TESTIMONY
Trump responded to House Speaker Nancy Pelosi, who invited him to testify in front of investigators ahead of a week that will see several key witnesses appear publicly. The California Democrat said Trump is welcome to appear or answer questions in writing, if he chooses.
“Even though I did nothing wrong, and don’t like giving credibility to this No Due Process Hoax, I like the idea & will, in order to get Congress focused again, strongly consider it!” Trump said. Pelosi made her suggestion in an interview that aired Sunday on CBS’ “Face the Nation.”
The back-and-forth between Pelosi and Trump came as a new ABC News/Ipsos poll found 70% of Americans think Trump’s request to a foreign leader to investigate his political rival was wrong. The same survey found 51% of Americans believe Trump’s actions were both wrong and he should be impeached and removed from office.
Eight witnesses are scheduled to testify in open hearings this week.
U.S. investors have largely been ignoring the impeachment drama in Washington. Monday, stocks SPX, +0.08% opened flat-to-lower after last week’s push to records, as investors gauge prospects for an interim U.S.-China trade deal.
Also read: The stock market heads to record highs even as the Trump impeachment hearings enter a new phase — here’s why.
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The Associated Press contributed to this article.
