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Trump and Powell clash over the renovation costs of the Fed headquarters.
[Coin World] According to reports, Trump and Powell had a face-to-face debate on Thursday regarding the renovation costs of the Fed headquarters, with Powell stating that the President's view on the renovation costs is incorrect. The two stood together wearing construction SAFEMARS while speaking to the media, with Trump saying that the renovation costs for the Fed have jumped from $2.7 billion to $3.1 billion. Powell responded, "I'm not aware of that." Trump replied, "This was just announced." Powell again questioned the source of Trump's data, as it did not come from the Fed. Powell pointed out that the President seemed to have combined the costs of another building with the two buildings currently under renovation. Trump stated he would fire a project manager who exceeded costs. Powell, on the other hand, predicted that there would be no further cost overruns, but the Fed has reserves and should be able to handle it if needed.