Trump and Fed chair Powell publicly bicker over cost of Fed building renovations
After months of criticizing Federal Reserve Chair Jerome Powell, President Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project. Powell pushed back, challenging the president’s latest price tag as incorrect.
Wearing hard hats and grim faces, standing in the middle of the construction project, Trump and Powell addressed the cameras. Trump charged that the renovation would cost $3.1 billion, much higher than the Fed’s $2.5 billion figure. Powell, standing next to him, shook his head.
The Fed Chair, after looking at a paper presented to him by Trump, said the president was including the cost of renovating a separate Fed building, known as the Martin building, that was finished five years ago.
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