United States President Donald Trump made an unusual visit to the Federal Reserve headquarters in Washington on Thursday (24) amid increasing pressure on US Central Bank President Jerome Powell.
Trump publicly criticized the costs of reforming two historic Fed buildings, which, according to him, exceed $ 3.1 billion.
“I didn’t hear that from anyone,” Powell countered.
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He said Trump was including a third government building, which was “built five years ago.”
Trump replied, “So let’s take a look. Let’s see what’s going on, and it is still a long way.”
When a reporter asked if Powell could say something that made Trump back back, the president said, “Well, I would love him to reduce interest rates.”
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The confrontation between the two occurred before the press, with both wearing security helmets during the visit to the works. Trump said he would like Powell to reduce interest, while the Fed president kept the caution posture.
Trump’s visit to the Fed is rare – it is only the fourth of an acting president since 1937 – and it occurs at a time of tension, with the president pressing for Powell to diminish interest rates, claiming that this could save hundreds of billions of dollars in US public debt interest payments.
Despite previous threats of dismissing Powell, Trump retreated, but maintains dissatisfaction with current monetary policy.
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In addition to criticism of reform costs, the Trump administration has questioned Fed’s management, with allies such as Bill Pulte, federal Housing Finance Agency chief, publicly asking Powell’s resignation.
Treasury Secretary Scott Bessent also defended a comprehensive review of Powell’s Central Bank’s performance.
