The "Federal Reserve mouthpiece": The building renovation dispute has emboldened a faction within the Trump administration that has long sought to challenge the independence of the Federal Reserve. Some economic advisors, such as Treasury Secretary Bessent, generally advocate maintaining the independence of the Federal Reserve. For example, Bessent declined to criticize Trump on the building renovation issue in a recent Fox Business interview. But other advisors and outside allies have been exploring legal avenues to remove Powell from office since before the election. Powell said in testimony last month, "No one wants to do a major renovation of a historic building during their term, let alone two historic buildings that need a lot of repair." Previously, Trump pushed for lower interest rates on a larger scale to reduce government borrowing costs. The Federal Reserve is not expected to cut interest rates at its meeting later this month, but Powell has hinted that interest rate cuts may come later this year if inflation performs well or the labor market weakens. Trump wants to reduce the debt service costs of the federal deficit, while his tax cuts may widen the federal deficit. But central banks in developed economies resist this pressure outside of extreme situations such as war. They believe that stabilizing inflation is essential to maintaining confidence in the country's currency. (Golden Ten) [Odaily Planet Daily]