Powell laid down the law to Trump on the Fed's independence decision-making, but Trump doesn't seem to be getting the message.

U.S. President Donald Trump called Federal Reserve Chair Jerome Powell to the White House on Thursday for their first face-to-face meeting since he took office in January and told the central bank chief he was making a "mistake" by not lowering interest rates.

President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, scolding him for not lowering borrowing costs. Powell maintained that any decisions won’t be based on the president’s demands.