Trump and Powell Face Off Over Renovation Costs

According to Jinse Finance, Trump and Powell engaged in a face-to-face debate on Thursday regarding the renovation costs of the Federal Reserve headquarters. Powell stated that the President’s view on the renovation costs was incorrect. The two, both wearing construction helmets, addressed the media together. Trump said that the renovation costs for the Federal Reserve had jumped from $2.7 billion to $3.1 billion. Powell responded, “I am not aware of that.” Trump replied, “This was just announced.” Powell again questioned the source of Trump’s data, noting that it did not come from the Federal Reserve. Powell pointed out that the President seemed to have added the cost of another building to the two buildings currently being renovated. Trump said he would fire a project manager responsible for cost overruns. Powell, on the other hand, anticipated no further overruns, stating that the Federal Reserve has reserves and would be able to handle it if necessary.