Trump and Fed Chair Powell Quarrel About $3 Billion in Renovation Expenses<\/p>\n\n\n\n
Former President Donald Trump questioned Fed Chair Jerome Powell about the project\u2019s growing expenses during a visit to the Federal Reserve\u2019s renovation site on Thursday. In contrast to the Fed\u2019s official estimate of $2.5 billion, Trump asserted that the price had skyrocketed to $3.1 billion.<\/p>\n\n\n\n
Powell, next to Trump, looked perplexed. \u201cNo one at the Fed has told me that,\u201d he stated. Powell discovered that a document Trump had given him made reference to a different project\u2014the renovation of the Martin Building, which had been finished five years prior.<\/p>\n\n\n\n
Trump, unfazed, inquired as to whether more cost overruns were anticipated. \u201cDon\u2019t expect them,\u201d Powell said. Trump joked that he might ease off Powell if interest rates were lowered after stating, \u201cI would have fired someone for that,\u201d drawing on his real estate background.<\/p>\n\n\n\n
This public discussion came after Trump called Powell a \u201cnumbskull\u201d in a recent Truth Social post. Nevertheless, Trump stated to USA Today that he has no intention of firing Powell: \u201cI don\u2019t think it\u2019s necessary, and it\u2019s a big move.\u201d<\/p>\n\n\n\n
Trump said he was hopeful despite the tension. I think he\u2019s going to act morally\u2026 I think he will, but it might be a bit late.<\/p>\n\n\n\n
Trump is still advocating for large interest rate reductions. Trump has called for a sharp reduction to 1%, but the Fed currently keeps rates between 4.25% and 4.5%.<\/p>\n\n\n\n
As monetary and economic policy become major issues ahead of the next election cycle, the incident exacerbates the already existing tension between Powell and Trump.<\/p>\n","protected":false},"excerpt":{"rendered":"
Trump and Fed Chair Powell Quarrel About $3 Billion in Renovation Expenses Former President Donald Trump questioned Fed Chair Jerome Powell about the project\u2019s growing expenses during… <\/p>\n","protected":false},"author":1,"featured_media":12,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/posts\/1734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1734"}],"version-history":[{"count":1,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/posts\/1734\/revisions"}],"predecessor-version":[{"id":1735,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/posts\/1734\/revisions\/1735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=\/wp\/v2\/media\/12"}],"wp:attachment":[{"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenewsbreeze.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}