Trump Pressures Powell: Renovation Row and Interest Rate Clash

President Donald Trump has intensified his campaign against Federal Reserve Chairman Jerome Powell, urging him to lower interest rates while scrutinizing renovation plans at the central bank's headquarters. The conflict underscores Trump's attempt to align monetary policy with his administration's economic priorities.

On Thursday, Trump's budget adviser, Russ Vought, dispatched a letter to Powell expressing deep concerns about potential violations regarding the renovations. The critique aligns with Trump's broader strategy to sway the Federal Reserve's role in managing the economy, which could threaten the institution's autonomy.

As Powell continues to resist Trump's demands, the president has enlisted aides to assess the renovation plans, a move that could prolong the tension between political influence and the Fed's independent mandate. The central bank's response remains muted, emphasizing its apolitical stance amidst the ongoing fiscal debate.

(With inputs from agencies.)