Donald Trump Discusses Federal Reserve Construction Overruns and Interest Rates with Jerome Powell

Federal Reserve Construction Project

• 🏗️ The Federal Reserve's construction project, involving basement expansion and other expensive work, has seen cost overruns, increasing from an estimated $2.7 billion to $3.1 billion or $3.2 billion.
• 🧐 The project is expected to be completed in 2027, with a reserve fund available for potential additional overruns, though none are anticipated.
• 🗣️ When asked as a real estate developer what he would do with a project manager overseeing such overruns, Donald Trump stated he would generally fire them.

Presidential Remarks on Powell and Interest Rates

• 💬 Despite the discussion of cost overruns, Trump downplayed any tension with Federal Reserve Chairman Jerome Powell.
• 💰 Trump reiterated his desire for Powell to lower interest rates, stating, "I'd love him to lower interest rates. Other than that, what can I tell you?"
• 🇺🇸 He highlighted the country's strong economic performance, mentioning a new trade deal with Japan that involves $550 billion and aims for zero tariffs for the US.
• 📈 Trump believes lower interest rates would further benefit the thriving US economy.