Bowman and Powell's Rare Meeting Sparks Schedule Controversy Amid Renewed Trump Pressure
The Federal Reserve's schedules have revealed that Fed Vice Chair for Supervision Michelle Bowman and former Fed Chair Jerome Powell attended banking-related events during the blackout period before the FOMC meeting in June.
Bowman met with the head of the Massachusetts Bankers Association on June 16, a week before the FOMC meeting. According to a Fed spokesperson, this was done to prepare her for a public address hosted by the association a week after the FOMC meeting.
Powell attended a reception hosted by the global board of directors of BNY Mellon on June 9, also one week prior to the FOMC meeting. The Fed spokesperson stated that Powell attended as an invited guest and did not make any remarks at the event.
This timing has sparked controversy, as it coincides with renewed pressure from Trump on the Fed. Trump had temporarily scaled back public pressure after Kevin Warsh took over as Fed Chair earlier this year, but his latest moves suggest the pressure is resurfacing.