Washington – President Trump visits the headquarters of the federal reserve on Thursday in Washington, a week after having indicated that the president of the Fed Jerome Powell Management of a vast renovation project Out of two fed buildings could be reasons for dismissal.
Mr. Trump has Criticized Powell for months Because the Fed maintained the short -term interest rate, the Fed controls 4.3% this year after having reduced it three times last year. Powell says the Fed wants to see how the economy reacts to Mr. Trump’s radical pricesWhich says Powell could push inflation.
Powell’s prudence has exasperated the president, who demanded the Fed reduced borrowing costs to stimulate the economy and reduce interest rates that the federal government pays for its debt.
The Fed has renovated its headquarters in Washington and a neighboring building. Part of the construction occurring underground and that the building materials skyrocketed after inflation increased in 2021 and 2022, the estimated cost reached around $ 2.5 billion against $ 1.9 billion.
When asked last week if the expensive reconstruction could be a reason to dismiss Powell, Trump said: “I think it is.”
“When you spend $ 2.5 billion, really, a renovation, I think it’s really shameful,” said the president.
The Powell dismissal would threaten the independence of the Fed, which has long been supported by most economists and investors of Wall Street, and was almost certainly Tracing the Financial Markets.
Mr. Trump referred to his Fed chair sorted on the aspect as “numb“A” hateful trump “and a”tenacious mule. “”
The president asked a group of rooms in the room at an oval office meeting last week If he were to dismiss Powell, sources told CBS News. Trump told journalists one day later that it was “very improbable“He would do it, although he confirmed He spoke to the legislators of “the concept of dismissing him” and “almost all said that I should”.
contributed to this report.
