President Donald Trump is scheduled to visit the Federal Reserve on Thursday afternoon, turning up the heat once again on Fed Chairman Jerome Powell amid intensifying pressure to lower interest rates.
The White House announced the president will arrive at the Fed’s Washington, D.C. headquarters at 4 p.m. ET, where administration officials are also expected to inspect an ongoing and controversial renovation project — one that has recently drawn scrutiny for massive cost overruns.
Trump’s trip comes on the heels of a fiery Truth Social post slamming Powell for what he sees as a damaging refusal to cut rates.
“Housing in our Country is lagging because Jerome ‘Too Late’ Powell refuses to lower Interest Rates,” Trump wrote. “Families are being hurt… and even our Country is having to pay a higher Rate than it should… This stubborn guy at the Fed just doesn’t get it — Never did, and never will.”
Trump claimed the current interest rate is costing the country $1 trillion per year and argued that rates should be three points lower — a move that, if enacted, could supercharge borrowing, housing, and investment in the run-up to the 2026 fiscal cycle.
Though Trump originally nominated Powell to lead the central bank back in 2017, relations between the two have soured dramatically in recent months. The president has accused Powell of dragging his feet, even suggesting — according to a report from The New York Times — that he drafted a letter to fire Powell earlier this year. Legally, a Fed chair can only be removed “for cause” unrelated to policy differences.
The president stopped short of publicly committing to Powell’s removal but hinted strongly at a shift coming soon. “Fortunately, we get to make a change in the next eight months or so, and we’ll pick somebody that’s good,” Trump told reporters, referencing Powell’s term, which ends in May 2026.
While Powell has resisted pressure to cut rates, he stated earlier this month that the Federal Reserve might consider easing monetary policy if not for inflationary concerns tied to tariffs. That stance has put him at odds with the Trump administration, which has prioritized aggressive trade actions — particularly against China — alongside pro-growth monetary policy.
In addition to interest rates, Thursday’s visit is expected to spotlight the Fed’s building renovation, a project whose cost has surged from $1.9 billion to $2.5 billion. The price spike prompted a criminal referral from Republican lawmakers, who accuse Powell of misleading Congress about the true scope and expense of the project. Some officials are reportedly questioning whether taxpayer dollars are being spent responsibly under Powell’s leadership.
Trump allies have used the renovation scandal as further evidence that the Federal Reserve needs new leadership — someone more in sync with the administration’s economic priorities.
As the Federal Open Market Committee prepares for its next meeting, Trump is making it clear: the Fed is on notice, and so is Jerome Powell. The president has made interest rates a central issue — not just for monetary policy, but for political accountability heading into the next phase of his second term.
With inflation cooling and fiscal conservatives calling for growth-focused adjustments, the coming weeks may bring a reckoning at the central bank — one that could define the direction of Trump’s economic agenda for years to come.
The post Trump to Visit Federal Reserve, Slams Powell Again Over High Interest Rates appeared first on Real News Now.
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