Trump Criticizes Federal Reserve Chair Jerome Powell and Disputes Renovation Costs
Former President Donald Trump attacked Federal Reserve Chair Jerome Powell during a press conference with Israeli Prime Minister Benjamin Netanyahu, calling Powell a fool and expressing a desire to fire him. He also hinted at pursuing a gross incompetence lawsuit against Powell.
Trump criticized the reported cost of renovating the Federal Reserve headquarters, inflating the figure to about $4.1 billion, which he described as the highest price in construction history. This contrasted with Powell’s stated renovation cost of $2.5 billion, a figure Powell publicly corrected when prompted earlier this summer.
In his remarks, Trump linked the Federal Reserve project to the White House East Wing ballroom renovation, asserting that the ballroom would cost far less. He later estimated the ballroom’s cost at about $400 million, double the previous $200 million estimate, attributing the increase to security features for the presidential inauguration.
Trump announced plans to appoint Powell’s successor next year and expected to reveal his choice in January. He criticized President Joe Biden for reappointing Powell but did not mention that Powell was originally appointed by Trump in 2018.
