Trump Urges Powell to Slash Interest Rates During Fed Visit

President Donald Trump and Federal Reserve Chair Jerome Powell met to discuss interest rates amidst an ongoing renovation project at the Fed's headquarters. Trump suggested that Powell might consider rate cuts, criticizing renovation costs. The Fed plans to hold current rates until more economic data becomes available.

President Donald Trump said on Friday that he had a productive meeting with Federal Reserve Chair Jerome Powell, suggesting that Powell might be open to lowering interest rates soon. The meeting took place on Thursday during Trump's rare visit to the Fed's Washington headquarters.

During the visit, Trump voiced concerns over costs linked to the ongoing renovation of two buildings at the Fed, a project previously criticized by the White House for being too expensive. Despite the friction, Trump reiterated his call for immediate rate cuts from Powell.

The Federal Reserve expressed appreciation for the president's encouragement to finish the renovation and stated its commitment to completing the project. Meanwhile, Powell has indicated the Fed will likely maintain its current rates, waiting on further economic data before making adjustments.

(With inputs from agencies.)