U.S. President Donald Trump stated on Monday that he had a conversation with Federal Reserve Chair Jerome Powell a few days ago, marking only the second time they have spoken since Powell assumed the role.

Speaking at the White House, Trump said the exchange with Powell was brief and limited to a single conversation. "Just one conversation," Trump noted.

Trump added that Powell will lead the Federal Reserve, emphasizing that the chair must work in collaboration with the board. "He will lead the Fed. I know what he wants to do, but he has to run the Fed. He has a board; the Fed isn't just him making all the decisions. If it were up to him alone, things would be different, but he has a board."

Earlier reports from foreign media suggested that Trump and Powell had multiple phone calls, breaking with the customary interactions between past presidents and Fed chairs. Trump's latest remarks refute those claims.

As previously mentioned by financial outlets, Powell had no phone conversations with Trump in June.