The US president is pressuring Powell to lower interest rates and has threatened to fire him over the cost of renovations for the bank’s HQ
Donald Trump and US Federal Reserve chairman Jerome Powell appeared together for a tense meeting on Thursday as the president toured the central bank after ramping up his attacks on its management of the economy.
Trump – who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority – has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
During a brief but painfully awkward exchange in front of the news media during a tour of the building, the pair bickered over the price tag for the makeover, which Trump said was US$3.1 billion.
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