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Trump Miscalculates Fed Renovation Costs, Hints Replacement

7/25/2025

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Summary

Story summary

During a tour of the Federal Reserve's renovation, President Trump asserted costs soared to $3.1 billion, only for Fed Chair Jerome Powell to clarify that Trump had mistakenly included a finished building. Despite their ongoing rivalry, Trump showed faith in Powell while subtly suggesting a potential replacement before Powell's term concludes in May 2026.

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Story summary

During a tour of the Federal Reserve's renovation, President Trump asserted costs soared to $3.1 billion, only for Fed Chair Jerome Powell to clarify that Trump had mistakenly included a finished building. Despite their ongoing rivalry, Trump showed faith in Powell while subtly suggesting a potential replacement before Powell's term concludes in May 2026.