A sitting president hasn’t visited the Federal Reserve headquarters in nearly 20 years, although Trump is set to end that streak at 4 p.m. Eastern time today. The visit is unusual given that the central bank is supposed to act as an organization independent of political pressure.
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Federal Housing Finance Agency (FHFA) Director Bill Pulte will likely be alongside Trump. “I look forward to touring the Federal Reserve today at 4pm ET,” said Pulte in an X post.
Trump and Pulte Intensify Pressure on Powell
Both men have been extremely critical of Fed Chair Jerome Powell in recent months, criticizing an expensive renovation and pressuring him to lower interest rates.
Pulte previously called for an investigation of Powell over the Fed’s $2.5 billion makeover of its Washington, D.C. headquarters. Yesterday, Trump characterized Powell as a “stubborn guy” who refuses to reduce rates, costing the U.S. $1 trillion as a result. The Fed is expected to keep rates steady during the next Federal Open Market Committee (FOMC) meeting on July 29-30.
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