Trump Criticizes $3.1B Federal Reserve Renovations During Visit

President Donald Trump publicly criticized Federal Reserve Chair Jerome Powell during a rare visit to the Fed's costly $2.5 billion renovation project, claiming the total expenses had ballooned to $3.1 billion by including a separate earlier project, a figure Powell disputed. Trump used the visit to escalate his pressure on Powell to lower interest rates, which the Fed is expected to keep steady at about 4.3% in its upcoming meeting. Trump, wearing a hard hat and drawing on his experience as a real estate developer, expressed frustration over what he called a "luxurious" and overly expensive renovation, even suggesting that the mismanagement could be grounds for firing Powell, though he later softened that stance. The renovation dispute highlights broader tensions between the White House and the Federal Reserve over monetary policy independence and fiscal responsibility. Despite Trump's demands for rate cuts and threats to remove Powell, no president has ever fired a Fed chair, and it remains unclear if Trump has the authority to do so. The White House continues to scrutinize the renovation for signs of mismanagement as part of Trump's broader campaign to pressure the central bank.