Trump Maintains Powell Chairmanship After Tense Fed Renovation Clash

President Donald Trump visited the Federal Reserve headquarters to inspect a costly renovation project and confronted Fed Chair Jerome Powell over escalating expenses, which Trump claimed reached $3.1 billion. Powell quickly corrected Trump, clarifying that part of the costs included a renovation completed five years ago, leading to an awkward public exchange. Despite ongoing tensions and Trump's repeated demands for significant interest rate cuts, Powell has maintained the Fed's current monetary policy due to inflation concerns. Trump also addressed rumors about firing Powell, stating it was unlikely unless there was fraud involved and emphasized his desire for rate reductions as the main point of contention. The visit highlighted the limits of presidential influence over the independent Federal Reserve and underscored the fraught relationship between Trump and Powell amid economic policy debates. Both men attempted to keep the encounter cordial despite the visible disagreements and public scrutiny.