Donald Trump will make a rare visit to the Federal Reserve, the first presidential visit in nearly two decades. This visit coincides with ongoing criticism of Jerome Powell and the Fed's spending on its headquarters. Historically, presidential visits signify respect for Fed independence, but Trump's frequent public criticism of interest rate policies raises concerns. Previous visits have served as endorsements of both the chairman and the central bank's autonomy, exemplified by George W. Bush's attendance during Bernanke's swearing-in ceremony, which emphasized the Fed's crucial role in the economy.
"In our economy, the Fed is the independent body responsible for setting monetary policy, for overseeing the integrity of our banking system, for containing the risk that can arise in financial markets, and for ensuring a functioning payment system."
"This is the first visit by a president to the central bank in nearly two decades—and only the fourth visit from the Oval Office in history."
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