Donald Trump and Fed Chair Powell clash over $3.1B renovation cost, interest rates, and leadership during Fed site visit. Photo/X.
US President Donald Trump and Federal Reserve Chair Jerome Powell on Thursday were seen in a publich showdown where two two exchanged heated arguments ver the cost of renovations at the Fed’s headquarters in Washington, D.C.
The heat exchange between the two happened when Trump visited a construction site at the Federal Reserve. POTUS has been pressing Fed chair to lower intersts even asked him to resign if he doesn’t oblige.
However, during the todays visit, Trump said he is not considering firing Powell as he had hinted earlier several times.
“To do that is a big move, and I just don’t think it’s necessary,” Trump told reporters during a separate press interaction following his tour of the site. “I believe that he’s going to do the right thing,” he added.
Shortly after Trump arrived at the site, he and Powell were seen walking the grounds together in white hard hats. While speaking to reporters, Trump claimed that the renovation of two historic Fed buildings had exceeded $3.1 billion in costs.
Powell immediately disputed the number.
“I haven’t heard that from anybody,” Powell said, adding that Trump’s figure likely included the costs of a third government building that had been “built five years ago.”
Trump replied, “So we’re going to take a look. We’re going to see what’s happening, and it’s got a long way.”
When asked by a reporter whether Powell could say anything to get Trump to ease his criticism, the president responded, “Well, I’d love him to lower interest rates.”
Trump’s appearance at the Fed was accompanied by several officials and political allies. He had previewed the visit earlier on Truth Social, saying he would be joined by Powell, Senators Tim Scott and Thom Tillis, Office of Management and Budget Director Russ Vought, Fannie Mae and Freddie Mac Chairman Bill Pulte, and his appointees to the National Capital Planning Commission, James Blair and Will Scharf, along with construction professionals.
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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