Trump, Powell Dispute Fed Renovation Cost Figures

President Donald Trump made a rare visit to the Federal Reserve headquarters to inspect its over-budget renovation project, confronting Fed Chair Jerome Powell over claimed cost overruns totaling $3.1 billion. Powell disputed Trump’s figure, explaining it included a separate building completed years ago, and reassured that the Fed has reserves for any unexpected expenses. Trump expressed frustration with the Fed's management, joking that a private sector manager would be fired, but stated he does not intend to fire Powell. The visit took place just days before a key Fed policy meeting, intensifying existing tensions between Trump and Powell over monetary policy and spending transparency. Trump continued to pressure the Fed for lower interest rates and increased accountability. The incident highlights ongoing concerns about the central bank’s independence and fiscal oversight.