Fed chair pushes back on Trump criticism of renovation costs as president presses central bank to cut interest rates
Fed chair pushes back on Trump criticism of renovation costs as president presses central bank to cut interest rates
Donald Trump sparred with the Federal Reserve chair, Jerome Powell, on Thursday during a rare presidential visit to the central bank’s headquarters.
Trump was continuing his campaign to pressure the Fed to cut interest rates and was visiting its Washington headquarters to view costly renovations he has suggested are tantamount to fraud.
Having branded Powell a “numbskull” for the Fed’s recent decisions not to cut rates, Trump has turned up the pressure on Powell with criticism of the $2.5bn bill for renovating the Fed’s historical buildings.
Powell and Trump stood in hard hats inside the Fed’s construction site. Urging the Fed chair to stand closer to him, Trump alleged that the bill for the renovations would now cost $3.
