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This spring, the Federal Reserve chairs from various regions held a closed-door meeting in Philadelphia. During the meeting, the Federal Reserve leadership chose a strategy of restraint to avoid conflict with the Trump administration. This strategy has since guided its response to President Trump's multiple attacks on the institution. The Washington Post has verified the details of this meeting and reported that the leadership of this 112-year-old institution chose to defend its independence in setting interest rates by avoiding public confrontation with Trump, enduring some impact, and not retaliating in public. Analysts point out that if the Federal Reserve had not adjusted certain policies or publicly countered the President's calls for interest rate cuts, its situation could have been much worse.