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President Donald Trump is set to make a surprise visit to the Federal Reserve’s headquarters in Washington, D.C. on Thursday, according to Reuters. The visit is being coordinated between the White House and the Fed, with a spokesperson confirming that both sides are working together to prepare for the unusual event.
Presidents rarely visit the central bank, especially unannounced. Trump’s upcoming appearance is drawing attention not only because of the timing, but also due to the ongoing tension between him and Fed Chair Jerome Powell. Trump has regularly pushed Powell to cut interest rates, arguing that lower borrowing costs would help the economy. He has even floated the idea of firing Powell, though he later said he doesn’t plan to do it.
Just this past Tuesday, Trump openly insulted Powell, calling him a “numbskull.” This kind of direct criticism of the Fed, which is supposed to operate independently from political pressure, is highly unusual and has raised concerns among economists and financial analysts.
The visit is also coming at a critical time. The Fed’s top policymakers are scheduled to meet next week for a two-day rate-setting meeting, where they will decide whether to adjust interest rates. Most experts believe the Fed will leave rates unchanged, keeping them in the current 4.25% to 4.50% range, which has remained steady since December.
While it’s not yet clear what Trump plans to say or do during his visit, the move is likely to stir even more debate about how much influence the president should have over the country’s central bank and its decision-making.