President Trump toured the Federal Reserve renovation with Jerome Powell and Senator Tim Scott today as part of their press conference. The tension was palpable. He told Powell the renovation was nearing $3.1 billion. Powell shook his head “no,” so Trump pulled out a paper listing the costs.
Powell looked ill at first, then angry.
Powell said it was the third building finished five years ago. Trump said it was part of the overall expense, but Powell insisted it couldn’t be included in the current expenses.
It sounds like the Reserve spends a lot of money and time renovating buildings.
Trump meets with Powell at Federal Reserve
A bizarre exchange between the two.
We’re living in a simulation.pic.twitter.com/B20ZOo7hyo
— Doge from Wall Street (@DOGEfromWS) July 24, 2025
After the tour, Trump wrote that Powell needs to finish the renovation ASAP, and lower the interest rates.
He wrote on TruthSocial:
“It was a Great Honor to tour the Renovation (and some new Construction!) of the Federal Reserve Building with Chairman Jerome Powell, Senator Tim Scott, and others. It’s got a long way to go, would have been much better if it were never started, but it is what it is and, hopefully, it will be finished ASAP. The cost overruns are substantial but, on the positive side, our Country is doing very well and can afford just about anything — Even the cost of this building! I’ll be watching and, hopefully, adding some expertise. As everyone knows, I renovated the Old Post Office on Pennsylvania Avenue, and it was a roaring SUCCESS. The total Construction cost was a small fraction of the Fed Building’s cost, and it is many times the size. With all of that being said, let’s just get it finished and, even more importantly, LOWER INTEREST RATES!”
I think Powell hates Trump. Just a guess. Meanwhile, there is a criminal referral in the DoJ on Powell for lying about his renovation. The message was clear today.
It’s the most expensive building project in US history, other than stadiums and resorts.
Powell is a criminal, he committed perjury several times to Congress.
The fed has authority over real estate decisions.
I was watching that and just wow! Powell was not a happy camper. I was laughing at the set up, then Powell’s reaction … priceless! President Trump sure knows how to work them! It was great … let’s see what shakes out.
Bless his soul, he is not subtle…tell it as it is…