Last night, Trump met with Powell for the first time since he took office. According to a statement of the Federal Reserve, Trump invited Powell to meet with him, "to discuss economic development, including growth, employment and inflation." Powell did not discuss his expectations of monetary policy, but stressed that the policy path would depend entirely on the forthcoming economic information and its significance to the future. Powell stated that policy decisions will be made entirely based on cautious, objective, and non political analysis. It seems that Powell went to the White House to give Trump a lesson on the independence of the central bank and the decision-making process of the Federal Reserve. Is this a good conversation or a bad one?