The White House escalated its conflict with the US Federal Reserve, with the Treasury secretary on Monday calling for a review of the “entire” central bank.
President Donald Trump has repeatedly criticized the Fed for not lowering interest rates, but the latest scrutiny surrounds its $2.5 billion building renovation. Some Republicans have suggested the costly project could be an opportunity to oust Fed Chair Jerome Powell, but others in Trump’s circle have reportedly sought to deter the president by highlighting the legal obstacles and market reaction he could face.
Trump’s frustration could grow as more central banks around the world — facing weaker growth and lower inflation as a result of tariffs — are forecast to cut interest rates this year, Bloomberg reported.
