The Fed has long maintained independence from the White House to avoid political pressures influencing monetary policy.

The Trump administration is pushing to conduct an on-site inspection of the Federal Reserve, as President Trump and his top aides continue to pressure Jerome H. Powell, the Fed chair, to lower intere...

The exchange highlights growing tensions between Fed Chair Powell and President Trump, who has pushed for rate cuts and threatened to fire Powell despite the bank’s independence.

President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.

President Trump wants the Federal Reserve to lower interest rates.

“We’re not planning on doing anything,” Trump told reporters at the White House, adding later, “I don’t rule out anything, but I think it’s highly unlikely. Unless he has to leave for fraud.”