Key Takeaways Cost dispute : Trump claimed Fed renovations cost $3.1B; Powell corrected him, noting $2.5B was accurate and Trump’s figure included unrelated projects . Firing threats walked back : Trump called firing Powell “unnecessary” despite earlier threats, signaling temporary retreat . Rate pressure continues : Trump publicly demanded rate cuts during the tour, linking them to housing affordability . Renovation justifications : Fed cited asbestos removal, security upgrades (blast-proof windows), and inflation as key cost drivers . Legal limits : Experts argue renovation overruns don’t meet the “for cause” threshold required to fire a Fed chair . The Confrontation: $3.1B Claim Meets Instant Pushback Trump wasted no time setting a combative tone. Standing beside Powell in hard hats at the Fed’s renovation site, he waved a document claiming costs had ballooned to $3.1 billion , far above the publicly stated $2.5 billion. Powell’s reaction was swift and visible: shaking his head...
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