It’s part of a larger push by Trump-aligned officials to probe the Fed and challenge Chair Jerome Powell’s leadership.

Fed officials are increasingly split on rate cuts, though UBS's Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Key Takeaways The White House lobbed more criticism at Federal Reserve Chair Jerome Powell Thursday, accusing him of mismanaging a renovation of the central bank's headquarters.In recent months, Trump has blasted Powell because the Fed has held its key interest rate steady against the president's repeated demands to lower borrowing costs.

The president, as well as his administration, vigorously called for Powell’s resignation in the aftermath of the “Liberation Day” tariff announcement in April, as inflationary pressure began to tick down. They, however, toned down the rhetoric after the markets reacted negatively to it.

The debate over how and when the tariffs will affect prices has divided central bank policymakers over the trajectory for interest rates.

U.S. stocks are higher as investors eye President Donald Trump's next tariff moves and await minutes from the last Federal Reserve policy meeting.