President Donald Trump visited the Federal Reserve headquarters in Washington Thursday, where he publicly scorned Fed chairman Jerome Powell over the costs of a long-planned, roughly $2.5 billion renovation project.

The dollar traded sideways against the euro on Thursday after the European Central Bank held rates steady, and was wedged between prospects for higher Japanese rates that supported the yen and worries about political risk after Sunday's elections.

The European Central Bank is leaving interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’s tariffs on the economy before deciding whether to cut rates again

The wait for a more affordable housing market is only getting longer as lingering inflation and tariff uncertainties keep the Fed in monitor mode.

Longer-term interest rates do not always decrease when the Fed cuts short-term rates. Following the Fed's cuts last year, 10-year bond yields increased, hitting a high of 4.8% in January, according to Open Markets. Mortgages are closely linked to the 10-year U.S. Treasury yield.

Fed staff told reporters that it would have been less expensive to just build a new building rather than restore the two historic properties.

The Federal Reserve got a new legal headache Thursday when a money manager sued Chair Jerome Powell and other central bank policymakers in a Washington, D.C. federal court, arguing policy meetings should no longer be held behind closed doors.

Alex Manzara at R.J. O'Brien makes the point that even if the Trump administration is successful in getting a more pliant Fed, there's still another issue in its quest to lower mortgage rates. The spr