President Trump has criticized the Federal Reserve’s renovations to its headquarters, blaming Fed Chair Jerome Powell amid his feud with the central bank chief over interest rates. Trump has suggested that the higher cost of renovations could be grounds to remove Powell from the Fed, as the Fed has not lowered interest rates due to uncertainty surrounding tariff measures. Powell has previously defended the renovations, stating that the project is large in scope and involves the renovation of two historic buildings on the National Mall. Trump visited the Fed on July 24 and claimed that renovation costs were $3.1 billion, up from the previously estimated $2.5 billion. Powell corrected Trump, saying the $3.1 million included previous projects but mentioning it as an honor to host the president. The press conference comes as federal law enforcement patrols the streets of Washington, D.C., after two 15-year-old boys were arrested for unarmed carjacking and beating up former Department of Government Efficiency staffer, Edward Coristine. Trump has mentioned the idea of federalizing the city to combat excessive crime, even though crime rates are at a 30-year low in the nation’s capital.
Trump criticizes Fed renovations ahead of a DC ‘beautification’ press conference.
