Trump to visit Federal Reserve amid criticism of Chairman Powell

President Trump is scheduled to visit the Federal Reserve's Washington, D.C., headquarters Thursday, amid his criticism of Chairman Jerome Powell and his management of building renovations. 

Trump's visit will mark the first time in nearly 20 years in which a U.S. president has made an official trip to the Fed, CNBC reported.

The president has repeatedly criticized Powell for refusing to lower interest rates and discussed firing him, but said he would prefer the chairman to resign ahead of his term as head of the bank ending in 2028.

Regarding whether he will fire Powell, Trump said last week, “We’re not planning on doing it. I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”

Powell has said that Trump firing him is “not permitted under the law.”

Rep. Anna Paulina Luna, R-Fla., announced Monday that she referred Powell to the Department of Justice for possible perjury and making false statements to federal officials regarding the central bank's headquarters renovations.

While Luna alleges that Powell made false claims about the renovations, the Fed chairman has sought to clarify the renovation project, reportedly $700 million over budget, with the Trump administration.