During a visit to the Federal Reserve's headquarters, Donald Trump pressured Fed chair Jerome Powell to cut interest rates as part of his campaign. Trump criticized the $2.5bn renovation costs, suggesting they had increased to $3.1bn. Powell appeared irritated by Trump's statements and clarified the cost included earlier renovations. Trump also tempered remarks about firing Powell, suggesting that a drastic move was not necessary. Ahead of the rate-setting meeting, Trump demands a reduction of three percentage points in interest rates, while the Fed is expected to maintain the current rate range.
Trump pressured the Federal Reserve to cut interest rates during a visit to its headquarters, criticizing the Fed chair and the costs of renovations.
Trump alleged the Fed's renovation costs escalated from $2.5bn to $3.1bn, irritating Powell, who clarified that the figure included prior expenses.
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