Archive · 25 Jul 2025
Trump Spars with Powell Over Fed Renovation Costs
Donald Trump, the former US president, visited the Federal Reserve and had a disagreement with its chairman, Jerome Powell, about the cost of renovating the Fed's buildings.
Trump thought the renovations were costing too much money, but Powell corrected him, saying Trump's numbers were incorrect.
Trump has previously criticized the Fed's decisions about interest rates.
Afterward, Trump said the country can afford the renovations on Truth Social.
Trump visited the Federal Reserve headquarters and clashed with Chair Jerome Powell over renovation costs.
Trump expressed concern over the reported cost overruns of the Fed's building renovations, initially stating a cost of $3.1 billion.
Powell refuted Trump's cost claims, clarifying the figures included unrelated renovation costs.
Trump criticized the Fed's decisions regarding interest rates, calling Powell a "numbskull".
Trump later posted on Truth Social, stating the country could afford the costs.
- Who
- Donald Trump and Jerome Powell.
- What
- A disagreement between Donald Trump and Jerome Powell regarding Federal Reserve building renovations cost.
- When
- During a visit to the Federal Reserve headquarters on Thursday.
- Where
- Federal Reserve headquarters.
- Why
- Trump raised concerns about renovation costs and criticized interest rate decisions by the Fed.
Trump's Perspective
Federal Reserve's Perspective
Cost Overruns
Trump's Perspective
Concern over the cost of building renovations and criticism of Federal Reserve decisions.
Federal Reserve's Perspective
The figures included the cost of renovations for the Martin Building, a different Fed office that was renovated five years ago.
Interest Rate Policies
Trump's Perspective
Trump's criticism of Powell and the Federal Reserve's interest rate policies.
Federal Reserve's Perspective
The usually unflappable Powell looked visibly irritated, closed his eyes and shook his head.
- People Involved
- Donald Trump, Jerome Powell
- Location
- Federal Reserve Headquarters
- Topic
- Building Renovations and Interest Rates