Trump visits Fed, says firing Powell 'big move'
Donald Trump made a rare visit to the Federal Reserve, voicing frustration over its renovation costs jumping from $1.9 billion to $2.5 billion.
While he'd previously floated the idea of firing Fed Chair Jerome Powell over broader issues, such as interest rate policies, Trump said during the visit that "To do that is a big move, and I just don't think it's necessary."
First presidential visit to the Fed in 20 years
This was the first time in nearly 20 years that a sitting president visited the Fed.
The trip happened as debate heats up about how independent the central bank should be—especially with big spending projects under scrutiny and interest rates still high.
Trump pushes for lower interest rates
Trump also pushed for lower interest rates, saying, "Interest rates have to come down," reflecting ongoing pressure on Powell and his team.
Meanwhile, Powell corrected Trump's claims about renovation costs, pointing out that some figures included buildings finished years ago and attributing overruns to security needs and surprises during construction.
Despite their differences, both agreed finishing renovations is important.