Donald Trump will visit the Federal Reserve on Thursday (July 24th) to inspect a construction site he has criticized for cost overruns amid his escalating attacks on Fed Chairman Jerome Powell for not cutting interest rates.
The White House announced the visit in Trump's daily public schedule, stating, "THE PRESIDENT visits the Federal Reserve" at 4:00 p.m.
In recent days, Trump has said he does not plan to fire Powell before the end of his term, but has not completely ruled out firing the central bank chief over his handling of the Fed's $2.5 billion renovation project. "This guy is building a very bloated building, and what does he need that building for?" Trump told reporters Tuesday in the Oval Office.
Late Wednesday, Senator Tim Scott increased scrutiny of the renovation, demanding Powell answer more than a dozen questions and noting "clear discrepancies" between publicly available plans, Powell's recent congressional testimony, and information on the Fed's website.
"To fulfill your promise of transparency, please provide responses, documents, and information to the above parties as soon as possible, but no later than August 8, 2025," Scott wrote in a letter. (alg)
Source: Bloomberg
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