Federal Reserve Chairman Jerome Powell walks off following a news conference following the Federal Open Market Committee meeting, Wednesday, May 7, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)
Share this @internewscast.com

() President Donald Trump will tour the Federal Reserve’s renovations on Thursday afternoon, the White House announced late Wednesday, as he continues a campaign against Fed chair Jerome Powell.

The visit will mark the first time in nearly two decades that a sitting president has made an official trip to the nation’s central bank the last was George W. Bush, who attended a swearing-in ceremony for chairman Ben Bernanke in 2006.

Usually, presidents make a marked effort to respect the independence of the Fed, which describes itself as “an independent government agency” and “ultimately accountable to the public and the Congress.” That includes avoiding directly asking them to change their decisions or paying visits to the Fed.

But Trump has consistently criticized Powell who he calls “too late” for his refusal to lower interest rates and, more recently, has alleged mismanagement of the renovation project.

Last week, Trump somewhat denied rumors that he is preparing to fire Fed chair Jerome Powell soon, telling reporters: “I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”

Federal Reserve Chairman Jerome Powell walks off following a news conference following the Federal Open Market Committee meeting, Wednesday, May 7, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)
Federal Reserve Chairman Jerome Powell walks off following a news conference following the Federal Open Market Committee meeting, Wednesday, May 7, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)

House Speaker Mike Johnson, R-La., did not deny the possibility but instead said it’s unclear whether Trump could fire Powell.

“Can the president fire Jerome Powell? I’m really not sure,” Johnson, a former constitutional lawyer, told reporters in the Capitol. “I have been not happy with the leadership there, personally. But I’m honestly not sure whether that executive authority exists. I’d have to look at that.”

Powell has said that his firing is “not permitted under the law” and indicated he would not step down if Trump asked him to.

Trump’s 4 p.m. EDT visit will allow the president to see the result of a multiyear, $2.5 billion renovation at the central bank.

Both Trump and members of his administration have criticized the project, with White House Budget Director Russ Vought announcing earlier this month that he was investigating the plans, which made him “extremely troubled.”

It’s unclear whether Trump and Powell will interact during the event.

partner The Hill contributed to this report.

Share this @internewscast.com
You May Also Like

FBI Reports Halloween Attack Suspects Conducted Two Surveillance Trips to Cedar Point

Federal investigators have uncovered a chilling plot involving suspects charged in a…

DHS Reports Gunfire Targeting Border Patrol Agents in Chicago

Watch the video above: Recent immigration raids in Chicagoland have resulted in…

Border Patrol Agents Targeted in Chicago Shooting Incident: DHS Reports

Video above: Over 3,000 arrests in Chicagoland immigration raids over the past…

SNAP Food Assistance Reaches Some States as Others Face Uncertainty Amid Ongoing Legal Disputes

Related Coverage: Food Drive Aids SNAP Recipients in St. Petersburg This weekend,…

Empower Veterans in Agriculture: Tennessee’s New Hub Revolutionizes Farming Opportunities

As Veterans Day approaches, the Tennessee Department of Agriculture has unveiled a…

New Mexico Pioneers Free Universal Child Care as the First State to Implement the Initiative

Amid the ongoing uncertainty of the government shutdown affecting millions across America,…

Women Who Lead Celebrates Female Trailblazers and Fosters Community Connections

SAVANNAH, Ga. () — The Women Who Lead Power Con gathered women…

FAA Suspends MD-11 Aircraft Operations After Fatal Crash in Kentucky

LOUISVILLE, Ky. — In response to a tragic accident at the UPS…

Brace for Intense Storms and Gusty Winds Ahead of Central Florida’s Upcoming Cold Snap

ORLANDO, Fla. – Florida experienced a warm day today, with temperatures reaching…

Budzinski Discusses SNAP Impact with Champaign Food Aid Nonprofit

CHAMPAIGN, Ill. (WCIA) — Following a series of legal exchanges involving the…

Heartwarming Snapshot: Tender Moments Emerge Amidst the Chaos of Typhoon Fung-wong in the Philippines

MANILA – In a brightly colored orange tent set up on a…

Captivating Images: Celebrate Veterans Day with Parades Across the Region

JOHNSON CITY, Tenn. (WJHL) — On Saturday, several communities across the region…