The Washington Post reveals Federal Reserve secrets: Closed-door meeting decides to compromise with Trump

According to an exclusive report by The Washington Post, the Federal Reserve held a closed-door meeting in Philadelphia this spring, where regional Fed presidents opted for strategic restraint to avoid conflict with the Trump administration. This strategy has since guided the Fed's response to President Trump's repeated attacks on the institution. The Washington Post has verified the details of the meeting, stating that the leadership of this 112-year-old institution chose to defend its independence in setting interest rates by avoiding public confrontation with Trump, absorbing some of the impact, and refraining from public retaliation. Analysts point out that if the Fed had not adjusted certain policies or publicly countered the president's calls for rate cuts, its situation might have been much worse; Trump could have potentially attempted to fire more current governors, including Powell.