Trump hints at potential dismissal of Federal Reserve Chair Jerome Powell due to $2.5 billion renovation of the Fed's headquarters, stating his preference for its timely completion.
The Federal Reserve Chairman, Jerome Powell, and President Trump recently embarked on a tour of the over-budget renovation project of the Federal Reserve headquarters near the White House. The tour, which took place on Thursday, was an awkward encounter for the two leaders, as tensions between them continue to rise.
The estimated cost of the renovation project is a staggering $2.5 billion, a figure that has raised concerns and questions about the project's management. President Trump, in response to a question from The Post, stated that he would typically fire a project manager who is over budget.
During the tour, both Trump and Powell donned hard hats, symbolising their presence and interest in the project. However, Powell's grim-faced expression suggested a different sentiment. The situation regarding the relationship between Trump and Powell is developing, and more information is expected to be released.
The potential justification for firing Powell due to the renovation is unprecedented. Trump has repeatedly called for Powell to resign due to his refusal to lower interest rates. Despite this, Trump did not indicate any personal issues with Powell during the tour.
The project manager who was dismissed during the renovation has not been publicly named. The renovation of the Federal Reserve headquarters remains a contentious issue between Trump and Powell, adding another layer of complexity to their already strained relationship.
Trump expressed a desire for the Federal Reserve headquarters renovation to be completed, but it remains unclear whether this desire will lead to any action against Powell. The situation is being closely watched by both the financial community and the general public.
As the renovation project and the relationship between Trump and Powell continue to unfold, one thing is certain: the future of the Federal Reserve and its leadership is uncertain. Stay tuned for more updates as this story develops.
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