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PBS News Hour - Segments

Trump ramps up pressure on Powell to cut interest rates during visit to Federal Reserve

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 24 July 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

President Trump continued to dial up the pressure on Jerome Powell during a visit to the Fed. The president's public remarks and personal insults about Powell are a major departure from past presidents, and his approach has sparked questions about whether the Fed's independence could be undermined in the months ahead. Geoff Bennett discussed more with Julia Coronado of Macro Policy Perspectives. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Transcript

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0:00.0

The president continued to dial up the pressure on Federal Reserve Chairman Jerome Powell

0:05.0

during a visit to the Fed today.

0:07.0

President Trump has repeatedly floated the idea of getting rid of Powell and then backed off,

0:12.0

but continues to press him to cut interest rates.

0:15.0

The president's public remarks and personal insults about Powell are a major departure from past presidents, and his

0:22.0

approach has sparked questions about whether the Fed's independence could be undermined

0:26.6

in the months ahead. Tensions were evident again today when the President and Powell got

0:31.6

together late this afternoon in front of the cameras.

0:36.1

A site not seen in modern times.

0:38.3

We're looking at the construction and we're with the chairman, as you know.

0:43.3

Chairman, come on over.

0:45.3

President Trump arriving today at the Federal Reserve Building.

0:48.3

Late this afternoon, the President visited the Fed's construction site,

0:52.3

a building undergoing its first major renovation

0:55.0

in nearly a century, amid intensifying criticism of Fed Chair Jerome Powell.

1:00.8

The tour had originally been planned for a handful of administration officials, including

1:05.2

budget director Russell Vogt.

1:07.5

But late last night, the White House announced that the President would be joining them.

1:11.6

The President and Powell today disagreeing in front of the press on the overall price tag for the renovation.

1:17.6

It looks like it's about 3.1 billion, one up a little bit, or a lot.

1:22.6

So the 2.7 is now 3.1.

1:25.6

I'm not aware of that.

...

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