Trump Questions Fed Building Renovation Costs with Jerome Powell

Federal Reserve Building Renovation

• 🏛️ President Trump toured the Federal Reserve building, focusing on its construction and renovation costs.
• 💰 The project's cost is estimated to be around $3.1 billion, an increase from a previous figure of $2.7 billion.
• 🧐 Trump questioned the rising costs, noting that the $3.1 billion figure appears to include a renovation that was completed five years ago.
• 🗣️ Fed Chairman Jerome Powell stated he was not aware of the specific $3.1 billion figure and that their notes also reflected this amount.

Discussion on Interest Rates

• 📉 When asked what Powell could say to alleviate his criticism, Trump stated he would like the Fed to lower interest rates.
• ⚠️ Trump expressed concern about the ongoing construction, asking if additional crossover runs were expected, to which Powell responded they were prepared but might use reserves.