Trump & Jerome Powell Have Public Disagreement Over Embattled Fed Renovation Project

Forbes Breaking News

President Trump and Fed Chair Jerome Powell have an open disagreement on the Federal Reserve renovation project.

Transcript

00:00Well, thank you very much.

00:14We're looking at the construction, and we're with the chairman, as you know.

00:19Chairman, come on over.

00:21And we're just taking a look at what's happening.

00:23You know, it's a tough construction job.

00:26We're building basements where they didn't exist or expanding them, and a lot of very

00:31expensive work.

00:32There's no question about it.

00:34And Tim has been with me for a long time, and you're in charge of the committee.

00:38Yes, sir.

00:39Indeed.

00:40One of the reasons I wanted to see it was the overruns of the expenses, we wanted to figure

00:43out why.

00:44Yeah.

00:45So we're taking a look, and it looks like it's about $3.1 billion.

00:50It went up a little bit, or a lot.

00:54So the $2.7 billion is now $3.1 billion.

00:56I'm not aware of that.

00:58Yeah.

00:59It just came out.

01:00Yeah.

01:01I haven't heard that from anybody in the Fed.

01:03Yeah, it just came out.

01:08Aren't those at about $3.1 billion as well?

01:10$3.1 billion.

01:11$3.2 billion?

01:12It just came from us?

01:13Yes.

01:14I don't know who does that.

01:18You're including the Martin renovation.

01:19You just added in a third building, is what that is.

01:23That's a third building.

01:24It's a building that's being built.

01:26No, it was built five years ago.

01:29We finished Martin five years ago.

01:30It's part of the overall work.

01:32It's not new.

01:33So we're going to take a look.

01:36We're going to see what's happening, and it's got a long way.

01:40Do you expect any more additional cost of loans?

01:44Don't expect them.

01:45We're ready for them.

01:46But we have a little bit of a reserve that we may use.

01:49But, no, we don't.

01:50We expect to be finished in 2027.

01:53We're well along, as you can see.

01:56Nice to take these off every once in a while,

01:59when we're not under too much danger.

02:01So, any questions?

02:03Mr. President, does the issue give you any?

02:04Subtittitrage Société Radio-Canada

Category

Transcript

Recommended