Trump to visit Federal Reserve in person after threatening to fire Chair Powell
The Federal Reserve building is seen as it goes under construction on July 18, 2025 in Washington, DC.
Michael M. Santiago | Getty Images
U.S. President Donald Trump is set to visit the Federal Reserve on Thursday, marking the first official trip by an American president to the central bank in nearly two decades. The visit comes amid escalating tensions between Trump and Fed Chairman Jerome Powell over cost overruns related to the Fed’s building renovations.
The White House released a schedule confirming Trump’s visit at 4:00 p.m. ET on Thursday. Prior to the visit, Fed officials conducted a press tour to address the cost overruns, attributing them to factors such as tariffs, material costs, and labor expenses.
While previous presidents have respected the Fed’s independence, Trump’s visit signifies a departure from this tradition, as he continues to criticize Powell for not lowering interest rates.
Trump’s repeated criticisms of Powell’s monetary policies have raised speculation about the possibility of firing the Fed chair, despite legal constraints. Powell has asserted that his dismissal is not permitted under the law.
While previous presidents have expressed disagreements with Fed chairs, none have attempted to remove the central banker from office.
— CNBC’s Christina Wilkie and Jeff Cox contributed to this report.
