Trump to visit Federal Reserve amid criticism of Powell, renovation costs

President Donald Trump is scheduled to visit the Federal Reserve on Thursday, a trip that will be closely watched amid ongoing tensions between the White House and Fed leadership.

President Trump has repeatedly criticized Fed Chair Jerome Powell for resisting calls to lower interest rates. Earlier this month, the president met with House Republicans and asked lawmakers for their thoughts on potentially removing Powell, according to a source familiar with the conversation.

Some attendees left the meeting with the impression that Powell’s job could be in jeopardy.

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When asked whether he intended to fire Powell, whom he first appointed during his previous term, President Trump said it was “highly unlikely,” though he did not withhold criticism.

“He’s costing us a lot of money, and we fight through it,” President Trump said. “It’s almost [as if] the country has become so successful that it doesn’t have a big impact, but it does hurt people wanting to get a mortgage, and people want to buy a house. He’s a terrible Fed chair.”

There is legal debate over whether the president has the authority to remove the Fed chair solely over disagreements on monetary policy. Meanwhile, President Trump and his allies have begun scrutinizing ongoing renovations at the Federal Reserve, noting that the project’s costs have ballooned by more than half a billion dollars.