Trump to Visit Federal Reserve, Increasing Pressure on Chair Powell
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President Donald Trump is set to make an official visit to the Federal Reserve, marking the first such trip by a sitting president in nearly twenty years and intensifying his public criticism of Chair Jerome Powell.
President Donald Trump is scheduled to visit the Federal Reserve on Thursday, according to a White House announcement. This marks the first official visit by a sitting U.S. president to the central bank in almost two decades, highlighting ongoing tensions between the White House and Fed Chair Jerome Powell.
Trump has repeatedly criticized Powell for not lowering interest rates, and has publicly questioned whether he could remove the Fed chair from his position. Earlier this week, Trump told reporters, "I think he's done a bad job, but he's going to be out pretty soon anyway." Last week, Trump reportedly discussed the possibility of firing Powell with Republican lawmakers, but later said, "We're not planning on doing it ... I think it's highly unlikely, unless he has to leave for fraud."
Powell has maintained that his removal is not allowed under current law. While past presidents have voiced dissatisfaction with Federal Reserve policy, none have attempted to dismiss the central bank's leader. The Federal Reserve is designed to operate independently from political influence, both by law and tradition.
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