WASHINGTON, United States — Donald Trump and US Federal Reserve chairman Jerome Powell appeared together for a tense meeting Thursday. The president toured the central bank after ramping up his
States — Donald Trump and US Federal Reserve chairman Jerome Powell appeared together for a tense meeting Thursday. The president toured the central bank after ramping up his attacks on its management of the economy.
Trump wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority to do so. He has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
There was a brief but painfully awkward exchange in front of reporters during a tour of the building. The pair bickered over the price tag for the makeover, which Trump said was $3.1 billion.
The actual cost of the facelift has been put at $2.5 billion. Powell was quick to correct the president, telling him: “I haven’t heard that from anybody.”
Trump produced a sheet of paper apparently listing construction costs. He was told curtly that he was including work on the William McChesney Martin Jr. Building. It was not part of the project.
“You’re including the Martin renovation — you just added in a third building,” Powell scolded.
Trump stuck to his guns, saying it was part of the overall redevelopment. Powell shot back: “No, it was built five years ago.
