Gold prices bounce off 3-week lows; demand likely longer term
Investing.com -- The Federal Reserve is coordinating with the White House to facilitate President Donald Trump’s unexpected visit to the central bank’s Washington headquarters on Thursday, according to Reuters.
The rare presidential appearance at the Fed comes amid growing friction between Trump and the independent monetary authority. A Fed spokesperson confirmed they are working with the White House to accommodate the visit, which was announced late Wednesday.
Trump has consistently pressured Fed Chair Jerome Powell to reduce interest rates and has frequently suggested he might fire him, though he has stated he doesn’t plan to do so. Just Tuesday, Trump referred to Powell as a "numbskull."
The timing of the visit is notable, occurring less than a week before the Fed’s policymakers convene for their two-day rate-setting meeting. Analysts widely anticipate the central bank will maintain its benchmark interest rate in the 4.25%-4.50% range, where it has remained since December.
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