President Donald Trump plans to step foot in the Federal Reserve on Thursday as his allies scrutinize its expensive building renovations, a highly personal and confrontational escalation of his campaign to pressure the central bank to slash interest rates.

Treasury Secretary Scott Bessent says he "will go where the president thinks" he's "best suited" to serve, as calls grow for the Fed's Jerome Powell to resign.

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

These twin catalysts – monetary policy and geopolitics – are colliding at a moment when positioning remains razor-thin and hypersensitive to macro headlines. What’s said and decided this week could set the tone for the next major leg of the Commodity Supercycle.

Don't look now, but the dollar has been making a reversal even as the market remains risk-on. The U.S. Dollar Index is up for the 9th straight trading day and is on pace for its longest winning streak since Oct.

In a potential escalation of President Donald Trump's feud with Fed Chair Jerome Powell, Vought told CNBC that an investigation is warranted into whether Powell has been misleading about the $2.5 ...