Federal Reserve Chair Jerome Powell has told multiple associates and allies that there’s no chance he will bow to President Donald Trump’s calls for him to resign, vowing to withstand several more months of the president’s unprecedented,

The president turned a rare visit to the U.S. central bank into political theater that included hard hats and a back slap.

Three things can simultaneously be true: that it would be reasonable for the Federal Reserve to cut interest rates; that its headquarters renovation is too expensive; and that the Trump administration's attacks show why central banks are designed to be independent in the first place.