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Excerpt:
In an awkward moment for Powell (X).
🚨 BREAKING: President Trump is OPENLY GRILLING Jerome Powell to his face at the Federal Reserve Building in DC
This comes after Trump found out the total for the renovations are actually $3.1 BILLION
“What are all these overruns about?!”
Holy CRAP this is an amazing watch 🤣 pic.twitter.com/Dh4ltIXF6p
— Nick Sortor (@nicksortor) July 24, 2025
Donald Trump clashed with Jay Powell during a visit to the Federal Reserve’s headquarters on Thursday in a rare public confrontation between a US president and central bank chief. The two men, who had donned white hard hats as they surveyed the refurbishment of the Fed’s Marriner S Eccles headquarters in Washington, quarrelled in televised remarks over the costs of the project. “We’re taking a look, and it looks like it’s about $3.1bn, it went up a little bit, or a lot. So the 2.7 is now 3.1,” Trump said moments after beckoning Powell to come into the centre of the camera frame. Powell shook his head and interrupted the president, saying he was “not aware” that the cost of the project had risen from the central bank’s estimate of $2.5bn. “It just came out,” Trump said, removing a piece of paper from his pocket as they stood side-by-side in a corridor with exposed wood framing and construction equipment …. Trump said on Thursday that there was “no tension” between him and Powell. “I have one dispute . . . I just want to see one thing it’s very simple, interest rates have to come down,” he said. He added that he “didn’t think it was necessary” to fire Powell, whose term as chair expires in May 2026 (Financial Times).
