Watch Fed Chair Jerome Powell react to US President Donald Trump

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Watch Fed Chair Jerome Powell react to US President Donald Trump  The Federal Reserve Chair and the US President got into a disagreement over costs at a tour of the Fed’s office building renovation in Washington on Thursday.   READ MORE : http://www.euronews.com/2025/07/25/watch-fed-chair-jerome-powell-react-to-us-president-donald-trump  Subscribe to our channel. Euronews is available on Dailymotion in 12 languages

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00:00Generally speaking, what would I do?

00:02I'd fire them.

00:09Well, thank you very much.

00:12We're looking at the construction, and we're with the chairman, as you know.

00:17Chairman, come on over.

00:19And we're just taking a look at what's happening.

00:22You know, it's a tough construction job.

00:24They're building basements where they didn't exist or expanding them, and a lot of very expensive work.

00:30There's no question about it.

00:32And Tim has been with me for a long time, and you're in charge of the committee.

00:37Indeed.

00:37One of the reasons why we wanted to see it was the overruns of the expenses.

00:40We wanted to figure out why.

00:44So we're taking a look, and it looks like it's about $3.1 billion.

00:48It went up a little bit, or a lot.

00:50So the 2.7 is now 3.1.

00:55I'm not aware of that.

00:56Yeah, it just came out.

00:58Yeah, I haven't heard that from anybody at the Fed.

01:01Yeah, it just came out.

01:06Our notes added about 3.1 as well.

01:083.1.

01:093.2.

01:10It just came from us?

01:11Yes.

01:12I don't know who does that.

01:16You're including the Martin renovation.

01:17That's our entire capital.

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

01:22That's a third building.

01:23It's a building that's being built.

01:25No, it was built five years ago.

01:27We finished Martin five years ago.

01:29It's part of the overall work.

01:31But it's not new.

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

01:35We're going to see what's happening.

01:37And it's got a long way.

01:39Do you expect any more additional cost overruns?

01:42Don't expect them.

01:43We're ready for them.

01:45But we have a little bit of a reserve that we may use.

01:48But no, we don't.

01:49We expect to be finished in 2027.

01:52We're well along, as you can see.

01:55Nice to take these off every once in a while when we're not under too much danger.

02:01So any questions?

02:02As a real estate developer, what would you do with a project manager who would be over budget?

02:07Generally speaking, what would I do?

02:11I'd fire him.

02:12Are there things the chairman can say to you today that would make you back off some of the earlier criticism?

02:18Well, I'd love him to lower interest rates.

02:20But other than that, what can I tell you?

02:23The country is doing really well.

02:24I just briefed the chairman on the deal we've made with Japan.

02:27Japan is putting up $550 billion in order to lower their tariffs a little bit.

02:32That way they have a little bit lower tariff.

02:34And they also opened their country to free trade, which nobody thought was even a possibility.

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