Trump visits Federal Reserve, clashes with Jerome Powell in rare moment
US President Trump visited the Federal Reserve on Thursday to inspect the ongoing renovation of the central bank's Washington, D.C., buildings. In an unusual moment, he disagreed with Fed Chair Jerome Powell over the final cost of the project.
The Fed's expensive renovation project has become a point of contention as the president seeks to pressure the central bank to lower interest rates more quickly. The renovation's cost has soared from $1.9 billion to $2.5 billion in recent years, News.Az reports citing foreign media.
During the visit, Trump and Powell, accompanied by Sen. Tim Scott, the South Carolina Republican chairman of the Senate Banking Committee, stopped to address news cameras.
Trump, waving a document, claimed the costs had now reached $3.1 billion as Powell visibly shook his head in disagreement.
"So we're taking a look, and it looks like it's about 3.1 billion [dollars]," Trump said. "Went up a little bit — or a lot."
"I haven't heard that from anybody at the Fed," Powell responded.
The Fed chair then took the document, looked at it and said the additional costs the president was citing had been for a separate building whose construction was completed five years ago.
Trump then appeared more conciliatory as reporters shouted questions.
"I don't want to be personal. I just would like to see it get finished," Trump said, referring to the renovations. "And in many ways, it's too bad it started, but it did start. And, and it's been under construction for a long time."
Trump also appeared to avoid delving into his recent criticisms of Powell.
"Well, I'd love him to lower interest rates, but other than that, what can I tell you?" Trump said as Powell chuckled.
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