Trump Pressures Fed Chair Powell Over Costly Renovation and Interest Rates

Trump pressures Fed’s Powell on rate cuts amid costly $2.5B Fed building renovation overruns. Fed denies wrongdoing as renovation costs rise due to inflation, security, and delays. Renovation ongoing, completion set for 2027; Fed asserts independent budget and oversight compliance. President Donald Trump publicly addressed Federal Reserve Chair Jerome Powell during a visit to the Fed’s Washington headquarters, intensifying ongoing tensions over monetary policy and the Federal Reserve’s costly building renovation project. During the tour of the Fed’s renovation site, Trump offered a figure exceeding $3 billion for the project, a number Powell contested. Powell clarified that it included a third Fed building refurbished years earlier. Powell stated that the third building was completed in 2021, separate from the current $2.5 billion renovation. The project involves refurbishing the historic Marriner S. Eccles building and the Constitution Avenue building, both nearly a century old and listed on national historic registries. The renovation has faced large cost overruns, rising from an original estimate of $1.9 billion to $2.5 billion due to inflation, sup… The post Trump Pressures Fed Chair Powell Over Costly Renovation and Interest Rates appeared first on Coin Edition .