(NewsNation) — President Donald Trump will tour the Federal Reserve‘s renovations on Thursday afternoon, the White House announced late Wednesday, as he continues a campaign against Fed chair Jerome Powell.
The visit will mark the first time in nearly two decades that a sitting president has made an official trip to the nation’s central bank — the last was George W. Bush, who attended a swearing-in ceremony for chairman Ben Bernanke in 2006.
Usually, presidents make a marked effort to respect the independence of the Fed, which describes itself as “an independent government agency” and “ultimately accountable to the public and the Congress.” That includes avoiding directly asking them to change their decisions or paying visits to the Fed.
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But Trump has consistently criticized Powell — who he calls “too late” — for his refusal to lower interest rates and, more recently, has alleged mismanagement of the renovation project.
Last week, Trump somewhat denied rumors that he is preparing to fire Powell soon, telling reporters: “I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”
Federal Reserve Chairman Jerome Powell walks off following a news conference following the Federal Open Market Committee meeting May 7, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)
House Speaker Mike Johnson, R-La., did not deny the possibility but instead said it’s unclear whether Trump could fire Powell.
“Can the president fire Jerome Powell? I’m really not sure,” Johnson, a former constitutional lawyer, told reporters in the Capitol. “I have been not happy with the leadership there, personally. But I’m honestly not sure whether that executive authority exists. I’d have to look at that.”
Powell has said that his firing is “not permitted under the law” and indicated he would not step down if Trump asked him to.
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Trump’s 4 p.m. EDT visit will allow the president to see the result of a multiyear, $2.5 billion renovation at the central bank.
Both Trump and members of his administration have criticized the project, with White House Budget Director Russ Vought announcing earlier this month that he was investigating the plans, which made him “extremely troubled.”
It’s unclear whether Trump and Powell will interact during the event.
NewsNation partner The Hill contributed to this report.
