Fed, Powell and Trump
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The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.
WASHINGTON, July 9 (Reuters) - U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the U.S. central bank to lower rates to help reduce the cost to service the nation's debt.
President Trump is putting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, and has been critical of the Fed's $2.5 billion office renovation.
The White House accuses the Fed chair of potentially "violating the law" in his renovation of the central bank's Washington, D.C., headquarters.