admin
President Trump made a bold move Thursday by visiting Federal Reserve Chairman Jerome Powell at the central bank’s headquarters. The meeting came just days before the Fed decides on interest rates that could hit hardworking Americans’ wallets. Trump has repeatedly demanded rate cuts to boost the economy, but Powell’s kept interest rates high despite complaints of inflation cooling.
The president’s visit turned heated when he confronted Powell over a botched renovation project. Trump accused the Fed of wasting billions on the building, claiming the cost soared from $2.7 billion to $3.1 billion. Powell calmly corrected him, explaining the Martin building was completed five years ago and shouldn’t be included in the tally.
This showdown isn’t just about construction—it’s a battle for economic control. Trump’s been vocal about firing Powell, citing the renovation mess as possible “cause” under laws allowing removal of Fed chairs for neglect or misconduct. He’s called Powell a “numbskull” for fighting rate cuts that could stimulate growth.
Conservatives argue Powell’s playing politics with the economy. High rates hurt farmers, small businesses, and homebuyers struggling to make ends meet. Trump supporters see him as a fighter willing to hold elites like Powell accountable for mismanagement.
Kevin O’Leary, the Shark Tank millionaire, warns this feud could scare off investors if the Fed looks unstable. “America’s losing trust,” he told Fox News, urging action to restore confidence. Many Republicans agree: a Fed boss who won’t listen to the White House is risking economic disaster.
The renovation flap’s roots are in Trump’s earlier decisions. His appointees overruled architects to use expensive white marble instead of less pricey glass, causing delays and budget blowouts. Now he’s using the fallout against Powell.
Powell’s defenders claim the Fed needs independence from political pressure. But critics say he’s prioritizing Wall Street over Main Street by keeping rates high. Trump’s actions ramp up pressure before the Fed’s next rate announcement later this week.
Conservatives cheer Trump’s tough stance. “He’s standing up for working folks,” one lawmaker said. The question now: will this confrontation end with Powell ousted—or with the Fed finally cutting rates to boost American prosperity?
