Deep Tide TechFlow News, July 12, according to Jinshi Data reports, the building renovation disputes have made a faction within the Trump administration that has long wanted to challenge the independence of the Federal Reserve bolder. Treasury Secretary Basant and some economic advisors generally advocate maintaining the independence of the Federal Reserve. For example, Basant recently refused to criticize Trump regarding the building renovation in a Fox Business interview. However, other advisors and external allies have been exploring legal avenues to remove Powell from office since before the election. Powell said in his testimony last month: 'During the term, no one wants to undertake major renovations on a historic building, let alone two historic buildings that need a lot of repairs.' Previously, Trump had pushed for lower interest rates more broadly to reduce government borrowing costs. The Federal Reserve is not expected to cut rates at its meeting later this month, but Powell has already hinted that if inflation performs well or the labor market weakens, a rate cut may occur later this year. Trump hopes to reduce the debt servicing costs of the federal deficit, while his tax cuts may expand the federal deficit. However, central banks in developed economies would resist such pressures except in extreme situations like wars. They believe that stabilizing inflation is crucial to maintaining public confidence in their national currency.