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.
- During a visit to the Fed headquarters on Thursday, President Donald Trump publicly scorned Federal Reserve Chair Jerome Powell over the $2.5 billion renovation costs.
- According to Fed staff, security requirements, rising materials costs and tariffs, and historic preservation measures drove up the project costs.
- During the exchange, Trump claimed a $3.1 billion overrun, while Powell countered that Trump included an extra building renovated five years ago.
- Following the visit, Trump pressed for completion and aggressive rate cuts.
- Future outlook shows completion in 2027, according to Powell, as the Fed remains patient to assess tariffs' impact on inflation.
115 Articles
115 Articles
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In the central bank's building under renovation, they started arguing about how much the renovation project would cost.
Coverage Details
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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