💨 Abstract

President Trump plans to visit the Federal Reserve headquarters amid tensions with Fed Chair Jerome Powell. Trump has criticized Powell for not lowering interest rates and for the costly $2.5 billion renovation of Fed buildings, suggesting it could be grounds for firing Powell. Economists and Wall Street investors worry that firing Powell could threaten the Fed's independence. Powell has kept interest rates at 4.3% to observe the economy's response to Trump's tariffs, which could increase inflation.

Courtesy: WTOP Staff