The White House announced that US President Donald Trump will visit the Federal Reserve on July 24. This will be the first time in nearly two decades that a US President has made an official visit to the central bank - an agency that is considered independent of the current administration. However, the announcement did not specify whether President Trump will meet with Fed Chairman Jerome Powell.
Traditionally, US presidents have respected the independence of the Fed, which is protected by law and practice from political interference by elected officials.
Mr Trump's move is a powerful symbolic message, reflecting his increasingly bitter disagreement with Mr Powell, whom he has repeatedly criticised for refusing to lower interest rates as the White House wants.
US President Donald Trump and Fed Chairman Jerome Powell (Photo: Bloomberg).
President Trump nominated Powell for the position during his first term. However, the relationship between the two later deteriorated due to disagreements on interest rates and the economy . Powell was then nominated for a second term by former President Joe Biden.
The White House and Republican lawmakers have recently criticized the Fed's over-budget renovation project, raising suspicions that Trump may be looking for a reason to fire the Fed chief. However, there has been no evidence of fraud, and the Fed has denied criticism of its handling of the project.
In late May, Mr. Trump invited Powell to the White House for a face-to-face meeting, the first since taking office. In a statement after the meeting, the Fed said that Powell assured the US President that he and his colleagues at the Fed "will formulate monetary policy in accordance with the law, to support maximum employment and price stability." Mr. Powell emphasized that all decisions are based on careful, objective and non-political analysis.
Source: https://dantri.com.vn/kinh-doanh/tong-thong-trump-sap-co-chuyen-tham-bat-thuong-toi-fed-cuc-dien-ra-sao-20250724190257713.htm
Comment (0)