WASHINGTON: US President Donald Trump is set to visit the Federal Reserve on Thursday, according to the White House schedule. The visit comes amid growing pressure on the central bank to lower interest rates, a move Trump has repeatedly demanded.
No additional details about the purpose of the visit were disclosed by the White House. Trump has been vocal in his criticism of Federal Reserve Chair Jerome Powell, labeling him a “loser” and accusing him of being “too late” in reducing borrowing costs.
The Fed has kept interest rates unchanged this year, opting to wait and assess the economic impact of Trump’s trade tariffs before making any adjustments. Trump has also taken issue with the Fed’s ongoing $2.5 billion renovation project, fueling speculation about Powell’s future.
Adding to the scrutiny, Treasury Secretary Scott Bessent recently stated that the effectiveness of the Federal Reserve as an institution should be reviewed. Powell’s term as Fed chair is set to conclude in May 2026. - AFP
