Trump's Unusual Fed Visit Sparks Debate on Monetary Policy

U.S. President Donald Trump toured the Federal Reserve's headquarters in Washington, critiquing a $2.5 billion renovation project as excessive. The visit underscores rising friction between the administration and the Fed, the independent body managing monetary policy for the nation.

This rare visit comes just days before a pivotal two-day meeting among the Fed's 19 policymakers. Expectations suggest they will maintain the central bank's benchmark interest rate within the 4.25%-4.50% range.

Despite these expectations, Trump has been vocally demanding a substantial 3 percentage point reduction in rates, intensifying scrutiny on the bank's forthcoming decisions.

(With inputs from agencies.)