The Latest: Trump to visit Federal Reserve as feud with its chair continues
Jul 24, 2025, 5:24 AM
President Donald Trump is visiting the Federal Reserve headquarters in Washington on Thursday, a week after indicating that Fed chair Jerome Powell’s handling of an extensive renovation project on two Fed buildings could be grounds for firing.
Trump has criticized Powell for months because the chair has kept the short-term interest rate the Fed controls at 4.3% this year after cutting it three times last year. Powell says the Fed wants to see how the economy responds to Trump’s sweeping tariffs on imports, which Powell says could push up inflation.
Powell’s caution has infuriated Trump, who’s demanded the Fed cut borrowing costs to spur the economy and reduce the interest rates the federal government pays on its debt. He’s threatened to fire Powell, threatening the Fed’s independence, which has long been supported by most economists and Wall Street investors.
The Fed has been renovating its Washington headquarters and a neighboring building. With some of the construction occurring underground and as building materials have soared in price after inflation spiked in 2021 and 2022, the estimated cost has ballooned to about $2.5 billion from $1.9 billion.
Here’s the latest:
3 p.m. ET — Trump will sign executive orders
4 p.m. — Trump will visit the Federal Reserve
The man charged with attempting to assassinate Trump last year at his Florida golf course will return to court Thursday to once again explain why he wants to fire his court-appointed lawyers and represent himself.
Ryan Routh previously made the request earlier this month during a hearing in Fort Pierce before U.S. District Court Judge Aileen Cannon. She didn’t rule during the hearing but said she would issue a written order later. But now Routh, 59, is set to be back in front of Cannon, a day after his court-appointed federal public defenders asked to be taken off the case.
Routh is scheduled to stand trial in September, a year after prosecutors say a U.S. Secret Service agent thwarted his attempt to shoot Trump as he played golf. Routh has pleaded not guilty to charges of attempting to assassinate a major presidential candidate, assaulting a federal officer and several firearm violations.
▶ Read more about the assassination attempt case
