Trump to tour the Federal Reserve’s $2.5 billion renovation, escalating his pressure campaign on Jerome Powell

President Donald Trump will join a tour of the Federal Reserve building in Washington, DC, on Thursday afternoon, a sharp escalation in his pressure campaign on the body’s chairman Jerome Powell over the central bank’s renovation project and interest-rate policy.

It’s rare for any president to visit the headquarters of the Fed, much less call for its head to step down. But Trump has blown past the body’s traditional independence and has mounted an effort to undermine Powell after the central bank paused interest rate cuts amid uncertainty over trade policy.

The visit, set for 4pm ET, had been previously scheduled as an opportunity for members of Trump’s staff to observe a renovation project of the Fed’s historic headquarters, which has gone well past budget and which the White House says may have violated planning requirements.

Trump’s decision to join the tour, announced late Wednesday by the White House, significantly ratchets up the symbolism of the visit. It wasn’t clear whether Trump would encounter Powell as part of the trip.

The last president to visit the Fed headquarters — situated along the National Mall only a few blocks from the White House — was George W. Bush in 2006, when he traveled the short distance to attend a swearing-in ceremony for Ben Bernanke.