Trump Visits the Federal Reserve Headquarters

It’s not often that a sitting U.S. President pays a visit to the central bank, but Donald Trump is not your typical president.

Trump Tours Federal Reserve in Surprise Washington Visit

The last president to visit the Fed’s headquarterswas George W. Bush, 19 years ago in 2006. That streak ended on Thursday when U.S. President Donald Trump took a trip to the country’s central bank to inspect its $2.5 billion renovation project and meet with Fed Chair Jerome Powell to discuss interest rate policy.

Traditionally, and maybe even legally, a president is not supposed to directly influence Fed policy. But Trump and Powell have been at odds about the level of U.S. interest rates, with Powell reluctant to cut rates while inflation is still above the central bank’s target of 2%. Conversely, Trump saysinflation has been mostly kept in check, and he doesn’t want the country paying upwards of $1 trillion in annual interest payments on the natinational debt, which has ballooned to roughly $36.67 trillion.