President Trump is set to make an unusual visit to the Federal Reserve on Thursday, according to the White House, marking the first official presidential trip to the central bank in almost 20 years, per CNBC. The move stands out as a bold gesture in the ongoing dispute between Trump and Fed Chair Jerome Powell, whom the president has repeatedly faulted for declining to cut interest rates. Traditionally, the Federal Reserve operates with a high degree of independence from the executive branch—a buffer enshrined in law and respected by presidents from both parties. Trump, however, has bucked that norm, not only criticizing Powell in public but also questioning whether the Fed chair can remain in his role.
Earlier this week, Trump said of Powell, "I think he's done a bad job, but he's going to be out pretty soon anyway," though the president later downplayed any concrete plans to remove him. Powell himself has stated that firing him isn't allowed under current law, a view supported by most legal experts. While past presidents have voiced frustrations with Federal Reserve policy, none have made a serious push to oust the chair. Trump's scheduled visit, set for 4pm ET, appears aimed to amplify his push for lower rates by taking his campaign directly to the Fed's doorstep, per CNBC. The White House didn't say whether Powell would meet with Trump, per the Guardian, which suggests the visit is part of an investigation of an ongoing renovation of the Fed HQ.
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