President Trump’s toured the ongoing construction renovations at the Federal Reserve’s headquarters but avoided making direct personal attacks on Chairman Jerome Powell, who hosted his visit.
Speaking briefly with reporters, Trump claimed the $2.5 billion project was $3.1 billion. When Powell disputed the higher price, Trump pulled out a paper from his jacket and showed it to Powell, who noted the elevated price resulted in Trump attaching the costs of the Martin Building, a different Fed office property that was renovated five years ago and was not part of the ongoing project.
The president declined to denigrate Powell before the media, stating “I don’t want to be personal. We’d just like to see it get finished. And in many ways, it’s too bad it started, but it did start, and it’s been under construction for a long time, that’ll be it’s going to be a real long time, because it looks like it’s got a long way to go.”
After the tour, Trump held another conversation with reporters. The president said he saw a “luxurious” situation with some of the renovations but opted not to insult the scope of the construction. “There’s always Monday morning quarterbacks – I don’t want to be that,” he added.
Trump kept reminding the reporters that was eager to see the Fed lower interest rates, stating that elevated rates are keeping prospective first-time homebuyers out of the housing market. “I know he’s going to do the right thing,” he said of Powell.
Trump and Powell were joined on the site tour by Sen. Tim Scott (R-SC). Members of the Trump administration who were previously announced as being part of the tour, including Federal Housing Finance Agency Director Bill Pulte, were also part of the tour but were kept off-camera when Trump spoke with reporters.
Photo: Screen shot of the live televised coverage of the Fed tour
lower the rate please
Lower the rate and can we get a head of the fed a little younger? He’s so old retire and let
some new young blood in.
Can we set term limits every 2 to 3 years for new FED leader.