{"id":1548825,"date":"2025-07-24T16:25:00","date_gmt":"2025-07-24T20:25:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1548825"},"modified":"2025-07-24T16:25:00","modified_gmt":"2025-07-24T20:25:00","slug":"trump-to-visit-fed-hq-as-criticism-of-powell-continues","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/trump-to-visit-fed-hq-as-criticism-of-powell-continues\/1548825\/","title":{"rendered":"Trump To Visit Fed HQ As Criticism Of Powell Continues"},"content":{"rendered":"

Trump To Visit Fed HQ As Criticism Of Powell Continues<\/span><\/p>\n

\n

Authored by Veronica Friedman via The Epoch Times,<\/em><\/a><\/p>\n

President Donald Trump will visit the Federal Reserve headquarters on Thursday, the White House said, amid ongoing tensions between the administration and the central bank.<\/p>\n

<\/a><\/p>\n

In a schedule released to the press on Wednesday night, the White House said the president would visit the Fed at 4 p.m. but did not say whether he would be meeting with Federal Reserve Chairman Jerome Powell.<\/strong><\/p>\n

Confirmation of Trump\u2019s attendance came after White House Deputy Chief of Staff James Blair earlier this week said that administration officials would be visiting the central bank, but did not mention that the president would be joining them.<\/p>\n

The Epoch Times reached out to the Federal Reserve for comment, but did not receive a response by publication time.<\/p>\n

Trump has been critical<\/a> of Powell over his reticence to cut interest rates more aggressively\u00a0and\u00a0called<\/a> for his resignation. The president has said he would like the Federal Reserve to cut the benchmark interest rate from its current range of 4.25 percent to 4.50 percent to as low as 1 percent.<\/p>\n

During a meeting at the White House with Philippine President Ferdinand Marcos Jr. on Tuesday, Trump said of Powell: \u201cI think he\u2019s done a bad job. But he\u2019s going to be out pretty soon, anyway. In eight months, he’ll be out … He should have lowered interest rates many times. Europe lowered their rate ten times. We lowered ours none. And it\u2019s causing a problem for people that want to buy a home.\u201d<\/p>\n

Refurbishment<\/h2>\n

White House officials have also criticized<\/a> the Federal Reserve over its handling of renovations to two historic buildings in Washington: the Marriner S. Eccles Building, the Fed\u2019s headquarters, and the 1951 Constitution Avenue building.<\/p>\n

Renovation costs for the Fed\u2019s headquarters have risen to $2.5 billion, $700 million over budget, according to Office of Management and Budget Director Russell Vought.<\/p>\n

Last week, Trump indicated that Powell\u2019s handling of the renovation project could be grounds to fire him, saying, \u201cI think it sort of is.\u201d<\/p>\n

\u201cWhen you spend $2.5 billion on, really, a renovation, I think it\u2019s really disgraceful,\u201d he said.<\/p>\n

The Fed\u00a0responded<\/a> to the criticism, stating<\/a> on its website that major systems in both buildings, whose construction dates back to the 1930s, are \u201cobsolete and in need of replacement for health and safety reasons.\u201d<\/p>\n

<\/a><\/em><\/p>\n

Federal Reserve Board Chairman Jerome Powell speaks at the Federal Reserve in Washington on July 22, 2025. Mark Schiefelbein\/AP Photo<\/em><\/p>\n

Call for Internal Review<\/h2>\n

Earlier this week, U.S. Treasury Secretary Scott Bessent called<\/a> for the Federal Reserve to conduct an internal review into nonmonetary policy operations, saying that \u201cmission creep and institutional growth\u201d have taken the central bank into areas beyond its core mission.<\/p>\n

Bessent wrote<\/a> on social media on Monday that while the Fed\u2019s independence is the \u201ccornerstone\u201d of the United States\u2019s economic growth and stability, that autonomy is \u201cthreatened by persistent mandate creep into areas beyond its core mission, provoking justifiable criticism that unnecessarily casts a cloud over the Fed\u2019s valuable independence on monetary policy.\u201d<\/p>\n

He stated in his post on X that while he has no knowledge or opinion on the legal basis for the two buildings\u2019 renovations, \u201ca review of the decision to undertake such a project by an institution reporting operating losses of more than $100 billion per year should be conducted.\u201d<\/p>\n

The treasury secretary had earlier on Monday\u00a0told<\/a> CNBC\u2019s \u201cSquawk Box\u201d that there needs to be an examination of whether the central bank has been successful in its mission.<\/p>\n

\u201cIf this were the [Federal Aviation Administration] and we were having this many mistakes, we would go back and look at why has this happened,\u201d<\/strong><\/em> Bessent said.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 07\/24\/2025 – 12:25<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/trump-visit-fed-hq-criticism-powell-continues<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Trump To Visit Fed HQ As Criticism Of Powell Continues Authored by Veronica Friedman via The Epoch Times, President Donald Trump will visit the Federal…<\/p>\n","protected":false},"author":0,"featured_media":1548826,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1548825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1548825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1548825"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1548825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1548826"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1548825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1548825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1548825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}