Donald Trump will increase pressure on Jerome Powell to visit the Fed |

Donald Trump will put further pressure on the chief FedJerome Powell, the U.S. president visited the Central Bank’s Washington office on Thursday.

In an unusual move, the White House announced that Trump would visit the Fed at 4 p.m. the next day, without saying whether Powell met him.

Since the U.S. president’s inauguration in January, he has attacked Powell several times and refused to lower interest rates.

The committee of presidents of Powell voted to maintain borrowing costs, while many other central banks, including the European Central Bank and the Bank of England, have also cut it.

Trump recently accused Powell of making it difficult for young people to buy a home, while interest rates remain high. Call him “numbskull” In social media posts and suggested that his term should be extended until next spring and should be restricted.

Trump’s public criticism of Powell and his suggestion of possible dismissal, which shocked the market due to concerns about the independence of central banks and freedom from political intervention.

Renovation of Fed Headquarters It has also become a subject of controversy It is reported that after $1.9 billion (£1.4 billion) of projects, about $600 million.

White House officials claim Powell’s oversight of the project demonstrates that Fed bosses lack the ability to run the organization.

The Fed fought back and explained in a video tour of the building that the project was a “complete overhaul and modernization” of two buildings that had not undergone major renovations since the 1930s.

Trump’s visit – part of the investigation into the project – represents an accelerated pressure on Powell and the bank by him and his advisers.

U.S. Treasury Secretary Scott Bessent downplays the possibility of destruction of Powell, but Questioning this week Whether the Fed has fulfilled its mission.

“Has the organization successfully performed its mission?” He said in an interview with CBNC. [Federal Aviation Administration] We’ve had a lot of mistakes and we’ll go back and see why this happens. ”

White House Deputy Chief of Staff James Blair said earlier this week that administration officials would visit the Fed on Thursday, but did not say whether the president would join.

According to Reuters, a Fed official did not immediately respond to a request for comment.