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Trump presses Powell to cut rates during tense visit to Fed
Source: Reuters
By Ann Saphir, Jasper Ward and Kanishka Singh
July 24, 2025 10:42 PM EDT
Summary
- US president wants borrowing costs lowered
- Trump says he will not fire US central bank chief
- White House accuses Fed of mismanaging $2.5 billion building project
- Fed expected to leave policy rates on hold at meeting next week
Trump, who called Powell a "numbskull" earlier this week for failing to heed the White House's demand for a large reduction in borrowing costs, wrapped up his visit to the Fed's $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would.
"To do so is a big move and I just don't think it's necessary," Trump told reporters after the visit.
In a post on his Truth Social media site, Trump later said of the renovation, "it is what it is and, hopefully, it will be finished ASAP. The cost overruns are substantial but, on the positive side, our Country is doing very well and can afford just about anything."
Read more: https://www.reuters.com/world/us/trump-presses-powell-cut-rates-during-tense-visit-fed-2025-07-24/
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Trump presses Powell to cut rates during tense visit to Fed (Original Post)
OKIsItJustMe
Jul 24
OP
gab13by13
(29,078 posts)1. Need to get the dollar down and crypto up.
OKIsItJustMe
(21,510 posts)2. Need to juice Wall Street
Like many Americans, he believes the Dow Jones is the economy."
C_U_L8R
(47,741 posts)3. After Trump's failed stunt at the construction site
He's not getting squat from Powell.
Karasu
(1,712 posts)4. "...our country is doing very well and can afford just about anything."
Except FEMA and NOAA and cancer research and foreign aid and health care and Social Security and...