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  • 6 days ago
President Trump toured the Federal Reserve’s D.C. headquarters Thursday, the fourth of its kind by a sitting president, according to CNBC. The president confronted Chair Jerome Powell over what he called excessive construction costs and pressed him to lower interest rates. Trump and Powell toured the Fed renovation site wearing hard hats, where Trump claimed the project’s costs had exceeded $3.1 billion. Powell disagreed, saying Trump had included expenses for a separate government building completed five years earlier. The visit marked Trump’s latest move to pressure Powell to cut rates or resign, though he later said it was “highly unlikely” he would fire him. The Trump administration is targeting the Fed’s building costs as part of a broader effort to question Powell’s leadership. Despite earlier threats, Trump struck a more conciliatory tone online, calling the tour a “Great Honor.”

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump toured the Federal Reserve's D.C. headquarters Thursday,
00:05the fourth of its kind by a sitting president.
00:07And according to CNBC, the president confronted Chair Jerome Powell
00:10over what he called excessive construction costs
00:13and pressed him to lower interest rates.
00:15Trump and Powell toured the Fed renovation site wearing hard hats
00:18where Trump claimed the project's cost has exceeded $3.1 billion.
00:22Powell disagreed, saying Trump had included expenses
00:24for a separate government building completed five years earlier.
00:27It doesn't mark Trump's latest move to pressure Powell to cut rates or resign,
00:31though he later said it was highly unlikely he would fire him.
00:34The Trump administration is targeting the Fed's building costs
00:36as part of a broader effort to question Powell's leadership.
00:39Despite earlier threats, Trump struck a more conciliatory tone online,
00:43calling the tour a great honor.
00:44For all things money, visit Benzinga.com.

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