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OKIsItJustMe

(21,510 posts)
Thu Jul 24, 2025, 10:56 PM Jul 24

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
WASHINGTON, July 24 (Reuters) - President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates.

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
Need to get the dollar down and crypto up. gab13by13 Jul 24 #1
Need to juice Wall Street OKIsItJustMe Jul 24 #2
After Trump's failed stunt at the construction site C_U_L8R Jul 24 #3
"...our country is doing very well and can afford just about anything." Karasu Jul 24 #4

OKIsItJustMe

(21,510 posts)
2. Need to juice Wall Street
Thu Jul 24, 2025, 11:01 PM
Jul 24

Like many Americans, he believes the Dow Jones is “the economy."

Karasu

(1,712 posts)
4. "...our country is doing very well and can afford just about anything."
Thu Jul 24, 2025, 11:23 PM
Jul 24

Except FEMA and NOAA and cancer research and foreign aid and health care and Social Security and...

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