US Edition
Trump, Powell Clash as President Visits Federal Reserve
UNITED STATES, JUL 25 – President Trump challenged Federal Reserve Chair Jerome Powell on the $2.5 billion renovation's rising costs, citing security upgrades and tariffs as key factors behind the overruns.
- President Donald Trump visited the Federal Reserve headquarters on a Thursday afternoon to tour ongoing renovation projects led by chair Jerome Powell.
- The visit followed rising tensions over the renovation's ballooning costs, with Trump claiming expenses hit $3.1 billion, while Powell said this included a third building remodeled years ago.
- Powell defended the project’s necessity, noting structural repairs, asbestos removal, and system upgrades, and confirmed the renovations began years ago and aim to finish by 2027.
- Trump described the renovation as a "very luxurious situation" but called the meeting "very productive," denying plans to fire Powell despite criticizing steady interest rates and prior threats.
- The dispute illustrates ongoing political pressure on Powell to lower interest rates amid inflation concerns, highlighting the complex interaction between presidential expectations and Fed independence.
104 Articles
104 Articles
In the central bank's building under renovation, they started arguing about how much the renovation project would cost.
Donald Trump tries to further damage the head of the central bank Jerome Powell with an appearance at the Fed building site. He only does his job.
U.S. President Donald Trump is visiting the headquarters of the Fed, the powerful U.S. central bank headed by Jerome Powell, whom he calls “foolish” for resisting lower rates. Powell was appointed by Trump during his first term (2017-2021) and confirmed by his Democratic successor Joe Biden but the visit, scheduled at 16h00 (20h00 GMT) according to the White House, will not be of courtesy.The White House did not specify the purpose of the visit …
U.S. President Donald Trump and Federal Reserve Chief Jerome Powell starred in a moment of tension during a visit to the central bank renovation project, while assessing the alleged cost overruns of the building under construction. Trump went to the Fed headquarters in Washington, D.C., on Thursday to inspect the ongoing renovation of the central bank works, but during the visit, he and Powell ended up discussing the final cost of the project.
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