President Trump and Federal Reserve chairman Jerome Powell spoke on the phone on for 5 minutes on April 11, according to Powell's calendar released by the Fed, just days after Trump echoed other administration officials in publicly calling on the central bank to cut interest rates.

The big picture: It's not unusual for a president to communicate with the Fed chair, but Trump's continued needling to cut interest rates and departure from the presidential norm of respecting the Fed's political independence makes the dynamic between the two men unusual.