WASHINGTON: US President Donald Trump will visit the Federal Reserve (Fed) today, according to the official White House schedule, amid mounting pressure on the independent central bank to lower interest rates.
No further details on the nature of the visit were provided by the White House.
Trump has openly and repeatedly lambasted Fed chair Jerome Powell’s leadership, calling him a “loser” and saying he was “too late” in lowering interest rates, among other criticisms.
The US central bank held interest rates steady this year, holding off cuts while policymakers monitored the effects of Trump’s tariffs.
Trump has also recently harped on the Fed’s US$2.5 billion renovation project, another possible avenue for Powell’s ousting.
Additionally, treasury secretary Scott Bessent said Monday that the institution of the Federal Reserve – and whether it has been successful – must be examined.
Powell’s term as Fed chief ends in May 2026.