US President Donald Trump downplayed his clash with Federal Reserve Chairman Jerome Powell over cost overruns during a tour of the central bank’s renovation project on Thursday.
Trump made it clear that he saw the issue of lower interest rates as a more pressing concern.
After a tour that saw Trump and Powell publicly trade barbs over the cost of the project, Trump maintained there was “no tension” with the Fed chief and indicated that problems with the project probably weren’t reason enough to fire the central bank head.
“To do that is a big move, and I just don’t think it’s necessary,” Trump told reporters.
Trump is the first US President to visit the Fed headquarters in nearly two decades, a move seen as a direct challenge to the bank’s independence and an attempt to increase pressure on Powell to lower interest rates.
US President Donald Trump downplayed his clash with Federal Reserve Chairman Jerome Powell over cost overruns during a tour of the central bank’s renovation project on Thursday.
Trump made it clear that he saw the issue of lower interest rates as a more pressing concern.
After a tour that saw Trump and Powell publicly trade barbs over the cost of the project, Trump maintained there was “no tension” with the Fed chief and indicated that problems with the project probably weren’t reason enough to fire the central bank head.
“To do that is a big move, and I just don’t think it’s necessary,” Trump told reporters.
Trump is the first US President to visit the Fed headquarters in nearly two decades, a move seen as a direct challenge to the bank’s independence and an attempt to increase pressure on Powell to lower interest rates.
