Archive · 25 Jul 2025

Trump Refrains from Firing Powell After Rare Fed Visit

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.

Sources