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| Trump reviews Fed renovation plans July 24, 2025 |
President Trump made an unannounced stop at the Federal Reserve on July 24, 2025. He walked through a site tour of a $2.5 billion renovation project. He pressed Fed Chair Jerome Powell on cost overruns and rate policy .
Trump framed the visit as an audit of taxpayer funds. He noted that as a developer, he would fire anyone over such large cost increases. He said he saw no reason for a “palace” at the Fed .
On the same day, the president signed a rescissions act. The law clawed back about $7.9 billion from foreign aid and $1.1 billion from public broadcasting programs .
Lawmakers fast‑tracked the bill under special rules. The House passed it June 12, 2025, and the Senate agreed July 17. The president took advantage of a 45‑day window to approve the cuts .
He argued the move restored spending discipline. Republicans hailed it as saving taxpayer dollars. Critics warned of harm to global health, education, and public media services .
A day later, on July 25, he flew to Scotland. Air Force One landed at Glasgow Prestwick Airport late that evening. He plans meetings with U.K. Prime Minister Keir Starmer and EU leaders .
His stay blends work and leisure. He’ll visit his Turnberry and Aberdeen golf resorts. He also hopes to fine‑tune a U.S.–U.K. trade pact reached in June .
Protests are expected as public views of Trump in the U.K. remain sharp. He faces questions over withheld files linked to Jeffrey Epstein. He told reporters on arrival that immigration issues in Europe “must be fixed,” warning of an “invasion”—a claim met with pushback from some leaders .
Markets showed little reaction to his Fed visit or budget cuts. Investors say Fed independence remains intact despite pressure. Analysts expect rates to hold at 4.25 %–4.50 % at the next meeting .
The rescissions package marks the first standalone cuts under the president’s second term. It revives a tool last used decades ago but long dormant. The procedure bars a Senate filibuster, so cuts passed with simple majorities .
Critics in Congress warn this sets a precedent for future spending clashes. Some moderate Republicans feared ceding too much power over budget authority. Democrats vow to use legal and legislative means to block similar moves .
As he settles in Scotland, Trump aims to shift focus to trade wins and his business ties. He will host talks on lowering tariffs and expanding market access. He told reporters he sees a “50–50” chance the EU deal will close soon .
This week’s actions cement his dual approach: public pressure at home and diplomatic outreach abroad. He blends his real‑estate instinct with presidential power. Observers say the bold moves keep him at the story’s center—both in Washington and overseas.