Trump and Powell Clash Over Fed Renovation in Public Showdown
During a high-profile visit to the Federal Reserve headquarters, former President Donald Trump found himself in yet another public standoff with Fed Chair Jerome Powell—this time, over the spiraling costs of the central bank’s $2.5 billion renovation project. As someone watching the footage and following the coverage, it almost felt like witnessing an awkward family dispute play out in a marble-floored boardroom.
Trump, never one to shy away from dramatic flair, tossed out a figure north of $3 billion for the Fed's renovation—well above the officially expected $2.5 billion cost. Powell immediately pushed back, correcting Trump in front of reporters, saying that the former president had lumped in an entirely different building that had already been renovated years ago. Powell's response was sharp: “You just added in a third building… it was built five years ago.” That moment alone made it clear this wasn’t your average tour.
What’s truly remarkable is how rare this type of public tension is between a president—former or sitting—and the head of the Federal Reserve. Traditionally, the Fed’s independence is fiercely guarded, especially around monetary policy. But Trump has broken that tradition time and time again. He's labeled Powell "Too Late," criticized him for keeping interest rates steady, and now he’s zeroing in on the renovation costs as a new pressure point.
Also Read:- Starlink Restores Global Connectivity After Rare Network Outage
- UnitedHealth Under DOJ Investigation Amid Scrutiny Over Business Practices
Trump’s interest in the renovation seems as much political as financial. He used the tour to amplify his long-standing message: that Powell is mishandling both monetary policy and now, apparently, building management. He even hinted, once again, that Powell’s job might not be safe—though he later dialed that back, noting Powell’s term ends in eight months anyway. Still, the message was loud and clear: Powell’s time is ticking, and Trump’s going to make those remaining months as uncomfortable as possible.
Powell, for his part, has remained mostly calm and professional. In letters to critics, he’s explained that all plans were reviewed properly and cost increases were inevitable given the age and complexity of the buildings. He even ordered a second internal review to prove the Fed isn’t hiding anything.
But the public perception is harder to control. Trump knows how to shape a headline, and this feud is giving him new ammunition to campaign against what he views as out-of-touch Washington leadership. Whether or not the renovation’s budget is justified, the optics are political gold for someone who thrives on conflict and spectacle.
So while Powell may be trying to finish a construction project, Trump is busy building something else—momentum. And once again, he’s found the perfect target in Jerome Powell.
Read More:
0 Comments