President Trump is planning a visit to the Federal Reserve’s headquarters on Thursday, aligning with other government officials who have called for a tour due to the ongoing oversight of the central bank’s renovation projects.
According to the public agenda provided by the White House, Trump is expected to arrive at the Fed at 4 p.m. on Thursday, with the visit anticipated to last around an hour.
Senior members of the White House have focused on the $2.5 billion renovation of the Federal Reserve’s Washington D.C. offices, linking it to broader criticisms of Chairman Jerome Powell.
Trump has for months berated Powell, whom he first appointed to the position in 2017, for not lowering interest rates. But the criticism has expanded in recent weeks.
White House deputy chief of staff James Blair and White House budget chief Russ Vought have led the charge in focusing on the renovations, and the president last week suggested the cost overruns could be a fireable offense for Powell. He has since backed off and indicated he does not intend to fire the chairman before his term expires next May.
Powell has asked the inspector general of the central bank to review the renovations, and the Fed has posted an explainer to its website detailing why the project has faced increased costs.
