The Trump administration says the president's visit to the Federal Reserve was to check the "progress" of a renovation -- and separate from his frustration that Powell won’t lower interest rates.

Trump is the first president to visit the Fed since President George W. Bush attended the swearing-in ceremony of Fed Chair Ben Bernanke in 2006. That ceremony marked only the third visit of a president to the Fed, Bernanke noted in his remarks on the day.

President Donald Trump is scheduled to visit the Federal Reserve in person Thursday — an unusual move that’s also a major escalation in the White House’s pressure campaign against Chair Jerome Powell.