US President Donald Trump and Federal Reserve Chair Jerome Powell have been discussing the economy and interest rates.

In a tweet, Trump described Monday's meeting as "very good and cordial." He added that they covered negative interest rates, monetary easing and trade issues, among other topics.

The Fed released a statement after the meeting, saying its decisions on monetary policy would be done carefully and based only on "non-political analysis."

Trump has been highly critical of the central bank and its chair. He has repeatedly called for rate cuts to further stimulate the US economy. The president has also claimed that a strong economic situation has been one of his achievements.

The Fed has lowered its key interest rate three times this year. Powell has recently indicated he has no intention to continue the cuts.

Previous US presidents generally respected the Fed's independence. But Powell is concerned by what appears to be Trump's willingness to intervene in monetary policy.