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Senator Rick Scott, R-Fla., Discusses the June CPI report and President Donald Trump asks the Fed President Jerome Powell, to reduce interest rates in ‘The final result’.
When asked on Tuesday if he thought that Jerome Powell’s behavior around the renovations of the Federal Reserve building was a “shown crime”, President Donald Trump said he thought it was, calling the “quite shameful” debacle.
The president pointed out Powell’s testimony before the Senate Banking Committee in June.
During his comments, the president of the Federal Reserve rejected the notion that recent renovations at the headquarters of the Federal Reserve in Washington, DC, and two adjacent buildings, which Powell admitted are about budget, included new luxurious characteristics such as marble, VIP dating, special elevators, terrace gardens, hives and new features of water.
Trump says that Powell should immediately give
President Donald Trump and the president of the Jerome Powell Federal Reserve. (Getty images / Photo Illustration / Getty images)
“They spent $ 2.5 million building this place. I have to say this. I think it’s terrible. I think it’s a rigid total. But the only thing I didn’t see is a guy who needed a palace to live,” Trump told journalists on Tuesday.
“You talk to the guy. It’s like talking with, nothing. It’s like talking to a chair. Without personality, without high intelligence, not anything. But the only thing I would never have guessed is that I would spend $ 2.5 billion to build a small extension to the Fed that nobody has seen.”
Trump has been generating his frustrations with Powell to the media in recent weeks, annoying because he has not reduced interest rates quickly enough, noting that he acted aggressively to increase rates under his predecessor Joe Biden.
Trump vs Powell: a ugly fight that we don’t need
Construction in the Federal Reserve Marrner S. Eccles in Washington, DC, USA, on Monday, July 14, 2025. (Al Drago / Bloomberg through Getty Images / Getty Images)
“That will be much more money than $ 2.5 billion to expand. And with all that to house thousands of people to give it information. And yet, of the 71 economists, and they included me and me and another person did another person well. Doug, I have some people.
“No, I think that when you spend $ 2.5 billion, really a renewal, I think it’s quite shameful.”
The elected president of the United States, Donald Trump, at a meeting of the Chamber Republicans in the Hyatt regency in Capitol Hill on November 13, 2024 in Washington, DC. (Allison Robbert-Pool / Getty images / getty images)
During his group with reporters, the president also talked about commercial advances and rates.
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Trump said he hopes that about five or six agreements with other important countries will be blocked on their deadline on August 1, while adding that he plans to send a letter at some point “to talk about many countries that are much smaller”, such as the countries of Africa and the Caribbean, address how they will be affected by tariffs.
Trump said it would belong to around 200 smaller countries when journalists press it on the matter.
