Archive · 25 Jul 2025
Trump Refrains from Firing Powell After Rare Fed Visit
President Trump visited the Federal Reserve, which is like the bank for the US government.
He met with the head of the Fed, Jerome Powell, whom he's criticized before.
Trump said he won't fire Powell, even though he wants lower interest rates.
They looked at a building being fixed up, but Trump was unhappy about how expensive it is getting.
The government is also worried because the Fed has lost money recently.
The Fed explained that fixing the building is important because it hasn't been updated in a long time, and the losses come from the way the Fed handles interest rates.
Trump visited the Federal Reserve, days before a meeting on interest rates.
Trump stated he would not fire Fed Chair Jerome Powell, despite past criticisms.
Trump and Powell toured a $2.5 billion renovation project at the Fed headquarters.
The White House criticized the renovation's rising costs, now at $3.1 billion.
The Fed reported financial losses in 2023 and 2024 due to interest rate management.
- Who
- Donald Trump and Fed Chair Jerome Powell.
- What
- Trump visited the Federal Reserve and discussed interest rates and renovation costs.
- When
- Thursday, before a meeting on interest rates.
- Where
- Federal Reserve headquarters, Washington.
- Why
- To discuss monetary policy and the Fed's spending.
White House Concerns
Federal Reserve Stance
Renovation Costs
White House Concerns
Fed spending is excessive and wasteful.
Federal Reserve Stance
Renovation is overdue and necessary.
Financial Performance
White House Concerns
The Fed's recent losses raise concerns.
Federal Reserve Stance
Losses are due to interest rate management to fight inflation.
- Event
- Trump's visit to Federal Reserve
- Participants
- Trump, Powell
- Location
- Federal Reserve headquarters, Washington
- Renovation Cost
- $3.1 billion
- Fed Losses 2023
- $114 billion
- Fed Losses 2024
- $77.5 billion