@cspanofficial: President Trump visited the Federal Reserve on Thursday as he seeks to ramp up pressure on the central bank to lower interest rates. For months, he has repeatedly hammered the Fed chair, Jerome Powell, for holding interest rates steady, and recently set his sights on the $2.5 billion renovation of the central bank’s headquarters. At one point on the tour, President Trump claimed the cost of the renovations had reached $3.1 billion, to which Mr. Powell closed his eyes and shook his head. After the president gave Mr. Powell a paper purporting to show the cost, the Fed chair said the additional money was related to the Martin Building, a different Fed office that was renovated five years ago. The Federal Reserve has left its benchmark lending rate unchanged at 4.25–4.5% since December, drawing the ire of President Trump, who wants cheaper borrowing rates to juice the economy. Asked whether there was something the chairman could say for him to back off his criticism, the president said, “Well, I’d love him to lower interest rates. Other than that, what can I tell you?” #trump #federalreserve #fed #jeromepowell #cspan

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Thursday 24 July 2025 21:00:24 GMT