A Trump-Powell Meeting: Chance of Rapprochement Fraught With Risks—for Both Sides

As White House aides try to arrange a sit-down, observers see peril to the Federal Reserve’s independence

WASHINGTON—White House officials are trying to arrange a meeting between President Trump and Federal Reserve Chairman Jerome Powell so that each can explain his thinking and possibly settle differences over policies that have rattled markets and prompted presidential tweets critical of rising interest rates.

But a sit-down could pose serious risks to the perceived independence of the Fed, according to lawmakers, former Fed officials and longtime central bank watchers. Even if the meeting sticks to broad topics such as the...