Trump and Powell disagree over cost of Fed building renovations
The president joked that he would back off Mr Powell if he lowered interest rates.
President Donald Trump publicly scorned Federal Reserve chair Jerome Powell on Thursday for the cost of an extensive building renovation as the two officials began a tour of the unfinished project.
Mr Trump said the project cost 3.1 billion dollars, much higher than the Fed’s 2.5 billion dollars figure, while Mr Powell, standing next to him, silently shook his head.
“This came from us?” Mr Powell said, then figuring out that Mr Trump was including the renovation of the Martin Building that was finished five years ago.
“Do you expect any more additional cost overruns?” Mr Trump asked.
“Don’t expect them,” Mr Powell said.
Mr Trump said in his career as a real estate developer he would fire someone for cost overruns.
The president joked that he would back off Mr Powell if he lowered interest rates.
