Trump presses for rate cut during Fed visit

WASHINGTON — US President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the US central bank on Thursday. The president criticized the cost of renovating two historical buildings at the Fed headquarters, while pressing the case for lower interest rates.

Trump, who called Powell a "numbskull" earlier this week for failing to heed the White House's demand for a large reduction in borrowing costs, wrapped up his visit to the Fed's $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would.

"To do so is a big move and I just don't think it's necessary," Trump told reporters after the visit.