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Ñмотреть онлайн фильмы в хорошем качеÑтве о гуÑарах, What Did Trump’s Hard-Hat Tour of the Fed Accomplish?, Powell fact checks Trump’s Fed renovation as awkward hard-hat , Trump Targets Fed's $2.5 Billion Renovation: What to Know | TIME, Fed chair tells Trump he has his facts wrong on central bank , 5 takeaways from Trump’s visit to the Federal Reserve, Federal Reserve chair Jerome Powell fact checks Donald Trump , Fed Chair Fact Checks Trump to His Face During Bizarre .
‘You just added a third building’: Powell fact checks Trump’s Fed renovation as awkward hard-hat visit turns tense | The Independent Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Not nowYes pleaseUS EditionChangeSupport NowSupport NowMenuMoreThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inNext articleTrump clashes with Jerome Powell during awkward tour of Federal ReserveFederal Reserve chair wasn’t fazed by Trump’s attempt to bully him in front of press in Washington, D.C.Friday 25 July 2025 09:39 BSTComments'You just added a third building': Powell fact checks Trump's Fed renovation as awkward hard-hat visit turns tenseYour support helps us to tell the storyRead moreFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read morePresident Donald Trump had a tense exchange with over the cost of a as he toured the central bank’s Washington headquarters. After viewing parts of the billion-dollar renovation, Trump and Powell stopped briefly to speak to reporters who’d traveled to the Federal Reserve headquarters with the president. Trump said the cost of the years-long project was now “about $3.1 billion†rather than the $2.7 billion previously stated by Powell.“So we're taking a look, and it looks like it's about 3.1 billion, went up a little bit or a lot. So the 2.7 is now 3.1, it just came out,†he said, reading from a piece of paper, as Powell looked on and shook his head negatively before interjecting.The chairman replied, “I haven’t heard that from anybody,†and asked if the paper Trump was reading from came from the central bank. At that point, Trump handed him the paper and continued talking while Powell pulled out his reading glasses to look. He then told the president that the higher number he was claiming included a separate project that wasn’t part of the renovation at issue.“You just added in a third building,†he said.U.S. President Donald Trump, Federal Reserve Chair Jerome Powell, and U.S. Senator Tim Scott (R-SC) tour the Federal Reserve Board building, which is currently undergoing renovations, in Washington, D.C., U.S., July 24, 2025 (Reuters)RecommendedHow Trump could use a building renovation to oust Fed Chair PowellFederal Reserve gives journalists a rare tour of building renovations ahead of Trump's visitFed chair Jerome Powell resignation letter fake appears to dupe Trump-boosting Republican senatorWhen Trump replied that the building in question was currently “being built,†Powell spoke up once more to disabuse the president of his misunderstanding of what he was reading.He told Trump that he was mistakenly counting long-completed renovations to a building named for William Martin Jr., who served as Fed chair from 1951–1970, as part of the renovation of the Fed’s main headquarters.“No, it's been it was built five years ago. We finished Martin five years ago,†he said.Asked by reporters if he expects more overruns on the lengthy project, Powell said the Fed is “ready†for any but doesn’t expect more.“We have a little bit of a reserve that we may use, but no,†he said before adding that he expects to project will wrap in 2027 — a year after his term as chairman is set to end. Trump and his allies have said the $2.5 billion renovation of the Fed headquarters and a neighboring building reflects an institution run amok — a belief they had hoped to verify in an afternoon tour of the construction site. The site visit by the president is an attempt to further ratchet up pressure on , whom the Republican president has relentlessly attacked for not cutting borrowing costs. Trump's attacks have put the Fed, a historically independent institution, under a harsh spotlight. Undermining its independence could reduce the Fed's ability to calm financial markets and stabilize the U.S. economy.The president has , whom he nominated to lead the Federal Reserve in 2017, primarily because of Powell’s , particularly in light of Trump’s decision to levy tariffs.Powell has said that the central will have on inflation and employment before making a determination on interest rates. This has prompted Trump to call Powell a “stupid person.â€The president can do little to remove Powell. Joe Biden re-nominated Powell for another five-year term in 2021 based on his steady leadership during the 2020 COVID-19 pandemic, and his term would expire in May. Federal statute says the president can only remove Powell “for cause.â€For a time, it appeared as if Trump and his allies had found such a cause in the costly renovation of the Fed’s headquarters. But Trump, a former real estate developer, appeared to soften his criticisms of the project after viewing it himself.Appearing in his element while sporting a hard hat, Trump said he would like to see the project finish.“In many ways it's too bad it started, but it did start, and it's been under construction for a long time. Gonna be it's going to be a real long time, because it looks like it's got a long way to go,†he said.A short time later, he told reporters that he’d had a “very good tour†and declined to repeat his earlier criticisms of the project. He did, however, give a detailed description of the project’s complexity with regard to a basement being dug beneath the Washington, D.C. water table.“I was given a very nice tour by the head of construction. And, you know, look, if you look over here, they're trying to open up the basement. When you open up a basement, first of all, it's the worst space — always. A basement is the worst space in a building, and it's also the most expensive space to build, and especially here, because you have a water line, you know, you they're going down into the water. So they have to build a reverse, what's called a reverse bathtub. The water has to be kept out. It's very expensive construction,†he said.“There's always Monday morning quarterbacks. I don't want to be that. I want to help them get it finished. It's been going around for years, and I want to help them get it finished.â€He later wrote on Truth Social that it had been a “great honor†to tour the building.“It’s got a long way to go, would have been much better if it were never started, but it is what it is and, hopefully, it will be finished ASAP,†he said. “The cost overruns are substantial but, on the positive side, our Country is doing very well and can afford just about anything — Even the cost of this building!â€He added that he’d be “watching†the project and hoped to add his own expertise, citing his eponymous real estate company’s renovation of the historic Old Post Office building into the hotel that became a MAGA hotspot during his first term before it was sold in 2021. “The total Construction cost was a small fraction of the Fed Building’s cost, and it is many times the size. With all of that being said, let’s just get it finished and, even more importantly, LOWER INTEREST RATES!†he said. Despite the president’s past criticism, it appears he has backed down from his implicit threat to fire Powell due to negative reaction from markets.Last week during an Oval Office press opportunity, it was “highly unlikely†that he would upend nearly a century of precedent by attempting to sack Powell less than a day after he reportedly polled a group of Republican lawmakers on whether he should sack the central bank boss during a Tuesday night meeting in the Oval Office after the 12 House Republicans blocked a cryptocurrency bill favored by the president.With additional reporting by agencies and Washington Bureau Chief Eric GarciaJoin our commenting forumJoin thought-provoking conversations, follow other Independent readers and see their repliesCommentsMost popularPopular videosBulletinRead nextToday’s EditionIndependent en EspañolIndependent ArabiaIndependent TurkishIndependent PersianIndependent UrduThe StandardPuzzlesIndependent AdvertisingSyndicationWorking at The IndependentModern Slavery StatementThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in , The president wanted to take Jerome Powell, the Fed chair, to task over the cost of renovations to the central bank’s headquarters, but Mr. Powell was having none of it., Trump and his allies have said the $2.5 billion renovation of the Fed headquarters and a neighboring building reflects an institution run amok — a belief they had hoped to verify in an afternoon .
Why has the cost of the Federal Reserve's renovation soared to $2.5 billion? Why is Trump treating it like a huge scandal?, As president, Donald Trump doesn't get a lot of pushback, but he got some Thursday from Federal Reserve Chairman Jerome Powell about the renovation costs of the Fed's headquarters., President Trump on Thursday visited the Federal Reserve headquarters alongside chair Jerome Powell to tour a major renovation taking place there that he has been criticizing., US President Donald Trump and his feud with Federal Reserve Chair Jerome Powell has spilled out into the public, as the two bickered over renovation costs in front of the media., Federal Reserve Chairman Jerome Powell called out President Donald Trump’s claims about the cost of the Federal Reserve renovations to his face on Thursday. It was a bizarre scene at the Fed , .