US EditionFederal Reserve gives journalists a rare tour of building renovations ahead of Trump's visit
WASHINGTON, D.C., JUL 24 – The $2.5 billion renovation, driven by security and preservation costs, fuels President Trump's criticism of Fed Chair Powell amid debates over interest rates and inflation.
- On Thursday, reporters toured the active construction site at the Marriner S. Eccles building and a neighboring site, while the Fed put out the welcome mat for President Donald Trump.
- Background work on the project began with board approval in 2017, which laid the groundwork; construction began in 2022 with a $1.9 billion estimate, which has since grown about 30%.
- Government data shows steel prices are up about 60% since June approval, with overall materials costs rising about 50%.
- President Trump said `When you spend $2.5 billion on, really, a renovation, I think it's really disgraceful.` while the renovation could justify firing Fed Chair Jerome Powell for cause, downplayed by administration officials.
- More recently, Trump has said he has no plans to oust Powell, which could be illegal per a May Supreme Court ruling, while his attacks have put the Fed under a harsh spotlight.
57 Articles
57 Articles
Associated Press News
Trading a suit for boots and a hard hat: Behind the scenes at the Federal Reserve, mid-renovation
On Thursday, staff at the Federal Reserve led a small group of journalists, photographers and television cameras on an extensive tour of the large, active construction site that comprises two 1930s-era buildings.
Reforma
On a tour of the Fed, Trump and Jerome Powell, head of the Federal Reserve, discussed the cost of renovating the headquarters.
Charleston Gazette-Mail
Federal Reserve gives journalists a rare tour of building renovations ahead of Trump's visit
President Donald Trump plans to visit the Federal Reserve as his allies scrutinize its expensive building renovations. It's a highly personal and confrontational escalation of Trump's campaign to pressure the central bank to slash interest rates. Trump administration officials have…
The Fed just gave a rare look at its $2.5 billion renovation — right before Trump’s tour
The Federal Reserve, one of the most notoriously tight-lipped institutions in Washington, has been suddenly thrust into an unusual situation: a high-stakes public relations battle with the White House.
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