President Trump plans to visit the Federal Reserve. It’s a highly personal and confrontational escalation of Trump’s campaign to pressure the central bank to slash interest rates.
President Donald Trump plans to step foot in the Federal Reserve on Thursday as his allies scrutinize its expensive building renovations, a highly personal and confrontational escalation of his campaign to pressure the central bank to slash interest rates.
Trump administration officials have used concerns about the building overhaul to cast doubt on Fed Chairman Jerome Powell’s decision-making. They were scheduled to inspect the site on Thursday, and the White House announced late Wednesday that the president would also be visiting.
The visit reflects Trump’s disregard for the traditional independence of the Fed, which plays a foundational role in the American economy by setting monetary policy that is supposed to be free of political influence.
While previous presidents have criticized the Fed’s decisions, Trump’s sustained campaign is an unusual and, his critics say, dangerous departure from the norm.
