President Trump visited the Federal Reserve headquarters and engaged in a public dispute with Chairman Jerome Powell over the cost of renovations and interest rate policy. Trump, who previously called Powell a "numbskull," claimed the renovation cost had increased to $3.1 billion, a figure Powell disputed, stating that it included costs from a previously completed project. Trump reiterated his demand for a three-percentage-point interest rate cut, while seemingly backing away from previous threats to fire Powell.

The visit occurred less than a week before a scheduled Federal Reserve meeting where interest rates are expected to remain unchanged. Trump's continued pressure on the Fed and his public criticism of Powell, despite softening his stance on potential dismissal, highlight ongoing tension between the executive and independent central bank.

Impact Statement: Trump's actions continue to raise concerns about political interference in the Federal Reserve's independence.