Trump Plans Rare Visit To Fed, Pressures Powell Over Rates

President Donald Trump is scheduled to visit the Federal Reserve on Thursday, marking the first official presidential trip to the central bank in nearly 20 years, according to CNBC. Trump’s planned visit to the Federal Reserve breaks with the longstanding tradition of presidential respect for the central bank’s independence. Trump has openly criticized Powell’s leadership and floated the idea of firing him, although legal experts question whether he has the authority to do so. Powell has stated that his removal is not permitted under current law. The president told reporters he believes Powell has done a poor job and suggested the Fed chair may be out soon. He had previously consulted with Republican lawmakers about firing Powell but later denied having plans to remove him, calling it unlikely unless fraud were involved.