President Trump is joining this afternoon’s tour by White House aides of the Federal Reserve headquarters.
The Wall Street Journal reports the tour is being promoted as a fact-finding investigation of the renovations underway at the central bank’s Washington headquarters. Several members of the Executive Branch have used the cost overruns on the renovation project in ongoing criticism against Fed Chairman Jerome Powell, claiming that he lied in a congressional hearing on the depth and scope of the work.
Trump has been hostile to Powell for the central bank’s decision not to lower rates since he resumed the presidency – but a recent Supreme Court decision stated the White House could not fire Fed officials at will. Both the president and his aides have used social media and television appearance to denigrate Powell, using the renovation project as a potential reason for having him dismissed. Trump acknowledged it was “highly unlikely” for him to force Powell out “unless he has to leave for fraud.”
It is uncertain if Powell will conduct the tour or if the visit will be conducted on live television.
