US EditionTrump, 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 renovation costs.
- During the exchange, Trump claimed a $3.1 billion overrun, while Powell countered that the president 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, Powell said, and the Fed will remain patient to assess tariffs' impact on inflation.
123 Articles
123 Articles
On several occasions, US President Donald Trump has criticized the head of the Central Bank, Jerome Powell. Now Trump apparently wanted to expose him in front of running cameras, but embarrassed himself in an absurd scene. Trump Powell was confronted with allegedly new figures about the rising costs of the renovation when he visited the renovation of the building of the US Federal Reserve (Fed) in Washington. The conversion costs would now amoun…
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