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 and Follow

() 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 and Follow
You May Also Like
Huge catfight erupts along 'America's most dangerous subway line'

Massive Altercation Breaks Out on ‘America’s Riskiest Subway Route’

A massive altercation took place on Chicago’s Red Line subway, which has…
Four arrested for child abuse in Columbia County home

Four Individuals Apprehended for Child Abuse Incident in Columbia County Residence

Nine children were removed from their home in Fort White after a…
Southwest passengers hurled out of seats and onto plane's CEILING

Southwest Passengers Thrown from Seats to Plane’s Ceiling

Southwest passengers were thrown from their seats and onto the aircraft’s ceiling,…
WWE delivers emotional Hulk Hogan tribute at SmackDown

WWE Pays Heartfelt Tribute to Hulk Hogan on SmackDown

Hulk Hogan’s tribute to open WWE SmackDown on Friday night was nothing…
Trump signs executive order to push cities to curb homeless sleeping, drug use on streets

Trump Issues Executive Order Encouraging Cities to Address Homelessness and Drug Use

(The Hill) – President Trump has signed an executive order on Thursday…
Sloppy Yankees can't get out of their own way again in loss to Phillies

Careless Yankees Stumble Again in Defeat Against Phillies

The Yankees orchestrated a major trade that they hope will strengthen their…
David Letterman unleashes fury at CBS for canceling Stephen Colbert

David Letterman Expresses Frustration Over CBS’s Decision to Cancel Stephen Colbert

David Letterman has expressed support for his successor, Stephen Colbert, and implied…
ICE agents capture criminal illegal immigrant accused of stalking government official

ICE agents capture criminal illegal immigrant accused of stalking government official

NEWYou can now listen to Fox News articles! Immigration and Customs Enforcement…