The White House announced Wednesday night that President Donald Trump will visit the Federal Reserve headquarters in Washington, D.C. Thursday afternoon.
The visit comes as Federal Reserve Chairman Jerome Powell is under pressure by the Trump administration and Congressional Republicans on two fronts: His refusal to lower interest rates and the $2.5 billion renovation of the Fed’s headquarters.
Semafor White House reporter Shelby Talcott reported several administration officials will accompany Trump:
“New: TRUMP will join tomorrow’s visit to the Federal Reserve. Others attending include James Blair, Russ Vought, and Bill Pulte, as we previously reported”
New: TRUMP will join tomorrow’s visit to the Federal Reserve. Others attending include James Blair, Russ Vought, and Bill Pulte, as we previously reported,
— Shelby Talcott (@ShelbyTalcott) July 24, 2025
New: James Blair, Russ Vought, and Bill Pulte among those attending tomorrow’s Federal Reserve site visit, Blair tells me. The visit is scheduled for 4pm — Will Scharf and Stuart Levenbach from the NCPC may also be there, depending on schedules:https://t.co/0UGwvRbGy3
— Shelby Talcott (@ShelbyTalcott) July 22, 2025
The Trump administration has been stiff-armed by the Fed on being allowed to personally inspect the renovation project.
Fannie Mae and Freddie Mac Chairman Bill Pulte, who has been calling for Powell’s resignation, spoke about the Fed’s renovation project with Fox News host Laura Ingraham Tuesday night.
“I’ve been in construction my whole life… but I go to this $2.5B Fed building and they’re tearing down marble and steel? It doesn’t make sense. We’re going to get to the bottom of it.”
—@Pulte on the bizarre rebuild of the Federal Reserve HQ. pic.twitter.com/kSM8NPOBl8— Laura Ingraham (@IngrahamAngle) July 23, 2025
Excerpt from TGP’s Cristina Laila’s report:
Chairman of the Board of Fannie Mae and Freddie Mac, Bill Pulte, on Tuesday evening said two more criminal referrals related to Fed’s multibillion dollar renovations were issued.
Fed Chair Jerome Powell is under fire for the cost of renovating the Fed’s DC headquarters. The cost ballooned from $1.9 billion to $2.5 billion.
Bill Pulte was on site to review the ongoing renovations at the Fed’s headquarters in DC and he said he only saw six construction workers.
Pulte told Fox News host Laura Ingraham that the construction workers were tearing down marble and steel.
…Jerome Powell has been criminally referred to the Justice Department for prosecution this week.
On Monday GOP Congresswoman Anna Paulina Luna sent a letter to the DOJ accusing Powell of perjury.
Treasury Secretary Scott Bessent spoke with Ingraham Wednesday about Powell, saying that President Trump will likely announce a successor to Powell by the end of the year for when his term ends next May:
