President Donald J. Trump is reportedly set to visit the Federal Reserve headquarters in Washington, D.C., on Thursday, continuing his campaign to pressure the central bank for what he has called much-needed interest rate cuts.
The trip, scheduled for 4 p.m. ET, will also involve a tour of a controversial renovation project that has drawn scrutiny over soaring costs and alleged misrepresentations to Congress.
Trump’s criticism of Fed Chairman Jerome Powell has intensified in recent months, as the president blames the central bank’s reluctance to cut rates for holding back the economy—particularly the housing sector.
“Housing in our Country is lagging because Jerome ‘Too Late’ Powell refuses to lower Interest Rates,” Trump wrote on Truth Social Wednesday. “Families are being hurt because Interest Rates are too high, and even our Country is having to pay a higher Rate than it should be because of ‘Too Late.’”
In his post, Trump laid out a stark economic argument, asserting that current rates should be “three points lower” than where they stand today.
“That would save us $1 Trillion per year (as a Country),” he noted. “This stubborn guy at the Fed just doesn’t get it — Never did, and never will. The Board should act, but they don’t have the Courage to do so!”
While Powell has defended the Fed’s position by pointing to inflationary pressures—including those stemming from tariffs—as justification for keeping rates steady, the bank’s own meeting next week may mark a turning point.
Still, Trump has made clear he believes Powell’s leadership has been inadequate, repeatedly calling for a shift in direction.
The visit comes as the Federal Reserve grapples with a ballooning renovation project at its headquarters. Initially projected to cost $1.9 billion, the plan has now surged to $2.5 billion.
That cost increase has triggered a wave of criticism from fiscal conservatives and prompted a criminal referral over allegations that Powell misled Congress about the project’s scope and cost—raising further questions about his stewardship.
The issue of Powell’s future also lingers. According to reports, Trump once considered firing Powell, drafting a letter that was ultimately never sent.
Legally, the president can only remove the Fed chair “for cause” unrelated to policy disputes. Still, Trump appears content to wait. “Fortunately, we get to make a change in the next eight months or so, and we’ll pick somebody that’s good,” Trump said, referencing the end of Powell’s term in May 2026. “We want to see lower interest rates. Our country deserves it.”
As Trump returns to the forefront of economic messaging in the run-up to the 2026 election cycle, his visit to the Fed underscores his broader effort to reframe monetary policy through the lens of middle-class priorities—particularly affordable housing and national debt management.
With the economy still strained under the weight of elevated rates, many Americans may be listening.
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