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Trump Set to Head to Federal Reserve, Keeping Heat on Chair Jerome Powell
President Donald Trump is planning a visit to the Federal Reserve headquarters in Washington D.C., just one week after indicating that Federal Reserve Chair Jerome Powell’s handling of an extensive renovation project could be grounds for his termination. The move appears to be an attempt by the President to keep pressure on Powell, who has faced criticism from Trump over the Fed’s decision to maintain interest rates.
The renovation project in question is expected to cost approximately $2.5 billion, a significant increase from its initial estimate of $1.9 billion due to rising construction costs and inflation. In a previous statement, Trump expressed his disapproval of Powell’s handling of the project, calling it “disgraceful” and stating that he believes the Fed chair should be held accountable.
This latest move by the President comes as tensions between Trump and Powell continue to escalate. The two have had a tumultuous relationship, with Trump frequently criticizing Powell’s policies and the Fed’s actions. In recent weeks, Trump has taken to Twitter to express his dissatisfaction with the Fed’s stance on interest rates, which he believes are too high.
It remains unclear what specific issues Trump plans to discuss with Powell during his visit. However, it is clear that the President continues to exert pressure on the Fed chair in an effort to influence monetary policy.
Source: www.cbsnews.com
