Donald Trump is set to visit the Federal Reserve, increasing pressure on Chairman Jerome Powell. Trump has criticized Powell for not lowering interest rates, impacting housing affordability. The Fed has maintained interest rates while other central banks have cut theirs. Trump has also attacked Powell's management of a $1.9 billion renovation project that exceeded its budget, raising concerns about the central bank's independence. His visit comes amid a broader investigation into the Fed's operations and the potential implications for Powell's future as chairman.
Trump's repeated attacks on Powell highlight a growing tension between the presidency and the Federal Reserve, marked by criticisms on interest rate policies and oversight of financial projects.
The controversy over the Federal Reserve's $1.9 billion refurbishment project, which exceeded its budget by $600 million, adds to the scrutiny and challenges facing Jerome Powell's leadership.
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