Powell pressure is growing

President Donald Trump and Federal Reserve Chairman Jerom Powell They went there -here before the press on Thursday over Trump’s demands Excess Expenditure Fed in Washington.

The stunning side when Trump started a rare excursion to the Fed building, which was widely considered as the last section in his pressure to force Powell to reduce interest rates or resign as the chairman of the Central Bank.

But Trump also suggested that he refused any consideration of Powell’s shooting, despite the fact that he floats this unprecedented and legally challenged idea earlier this month.

“This is a big step and I just don’t think it is necessary,” Trump told reporters after his short clap with Powell.

He added, “I think he will do correctly.”

The President’s visit to the Fed on Thursday afternoon came when his administration recently entered the expensive repair of two historic Central Bank buildings at the DC

Shortly after Trump and Powell’s arrival were spotted together, both in white hard hats.

They appealed to the journalists, and Trump claimed that the cost of construction for a permanent repair of two Fed buildings was headed by $ 3.1 billion.

“I didn’t hear it from anyone,” Powell replied.

He said Trump adds expenses to the third government building that was “built five years ago”.

Trump replied, “So we’ll see. We’ll see what’s going on and it’s a long way.”

When the reporter asked if Powell could say something that makes Trump abandon criticism, the president replied: “Well, I would like him to reduce interest rates.”

Later, on Thursday, Trump struck a more conciliatory tone, writing about the “truth” that it was a “great pride” on a tour of Powell’s website.

“It will be a long way, it would be much better if it never started, but it is what it is, and hopefully it will be over as soon as possible,” he wrote.

“Exceptions are significant, but, on the positive side, our country works very well and can afford almost everything – even the cost of this building!”

said Trump Before the arrival, to join the Republican Sens. Tim Scott and Tom Tilis, as well as several administration officials, including the director of the Federal Housing Financing Agency Bill Pepte.

Partt is one of Powell’s most violent critics and was one of the most voice supporters of the Trump administration that urges him to replace.

“Jerome Powell has to resign”, the panel wrote on x Earlier Thursday.

Trump demands that Powell immediately reduce the interest rate benchmark, while depriving him of his accusations of incompetence and political prejudice – although Trump initially nominated Powell for his role in 2017.

The main interest rate is set by the fact that banks charge each other for lending overnight, but also shimmered on several consumer products.

The Fed exceeded the full interest point in the back half of 2024, taking it in the range of 4.25%-4.5%. But it has retained the rates stable since December – annoying Trump, which claims that the US will save hundreds of billion dollars in interest in the US.

Interest payments by US debt were topped up 1.1 trillion dollars In 2024.

The markets largely believe that the Central Bank will remain on the content if it meets next week, but it is likely to reduce the rates in September and once again by the end of the year.

Trump tried to brand Powell with the nickname “too late”. And last week he asked in a room full of home republicans if they think he should fire a kartma chair.

But Trump later retreated, saying it “very unlikely“To stop Powell,” if he doesn’t have to go for fraud. “

It is unclear whether the president has the powers to dismiss the chairman of the Fed. The Supreme Court recently said the Central Bank’s independence was defended by a legal precedent.

But Trump and his administration supported the pressure, most recently, focusing on the costs associated with perennial, multimillion -dollar update

Trump’s budget chief, races roughly improperly driven Fed “as he questioned the” demonstrative “construction project.

Finance Minister Scott Igent, which is considered as a possible Powell replace A comprehensive review.

It is rarely the president who will appear in the Fed: Trump is only the fourth such visit since 1937, when President Franklin D. Roosevelt has devoted the building.

And there was no previous appearance when the president openly called for changes in monetary policy or threatened to investigate the behavior of the Fed.

The visit also happens when Trump seeks to divert attention from an increasing dispute over the management of the administration to still reflected files related to the dead sexual offender Jeffrey Epstein.

– Jeff Cox CNBC contributed to this report.