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President Donald Trump on Tuesday increased his pressure to cut interest rates on Federal Reserve Chairman Zerome Powell, allowing the Central Bank’s renovation project to be allowed to proceed.
Trump socially took the truth to explode Powell, who refused to adjust the rates despite repeated demands by the President as inflation is stable, 2.7% in July.
“Jerome” very late ‘Powell should now lower the rate, “Trump wrote on his truth social.
President Donald Trump presented the Chairman of the Federal Reserve to Jerome Powell, which Trump called the Federal Reserve’s $ 2.5 billion headquarters renewal project on July 24, 2025, a list of cost overran on July 24, 2025, Washington, DC. (Chip Somodeville/Getty Images)
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“Steve ‘Manouchin’ really gave me a ‘beauty’ when he pushed this lost. The damage caused by too late is inconsistent. Fortunately, the economy is very good that we have blown through Powell and Great Board.”
Trump then moved to reduce the possibility of legal action, although it is not clear which case Trump was referring to.
“I am considering allowing a big case against Powell, however, as it is terrible, and grossly disabled, the job they have done in managing fed buildings. Three billion dollars for a job that should have been fixed for $ 50 million. Not good!”
Comments are the latest public attacks of Trump against Powell despite appointing as Federal Reserve Chair in 2017. A fed spokesperson refused to comment.
Powell and Fed have defended the earlier ongoing renewal, emphasizing that they are the necessary structural updates and not luxury. (Photo by Win Mechenami/Getty Image)
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The renewal of the Federal Reserve focuses on two historic buildings in Washington, DC: Marinner S. Excel Federal Reserve Building and adjacent 1951 Constitution Avenue Structure, also known as FRB-East Building.
Powells and Fed have defended the earlier ongoing renewal, emphasizing that they are necessary structural updates and no luxury, and are in full compliance with the schemes approved by the National Capital Planning Commission in 2021. Powell and Trump visited the site last month.
In a true social post on Sunday, Trump slammed the cost of overhaul.
Trump wrote, “We are not going to allow people to spend $ 3.1 billion on fixing a building like the Federal Reserve, which could have been done in an elegant and time sensitive manner for $ 50 to $ 100 million.” “Renewation would have been really better, and $ 3 billion, traffic jams and never ending construction would have avoided.”
Earlier this month, Trump urged the Board of Governors of the Federal Reserve that if he opposed the immediate interest rate cut, Powell urged Powell to take control. Fed has held its benchmark interest rate limit between 4.25%-4.5%, which Trump has argued about US economic growth.
federal Reserve The Federal Open Market Committee (FOMC) collectively determines its interest rate policy through the 12-member panel known as the Federal Open Market Committee (FOMC), which votes with each member on those decisions-in which one vote, including Powell, receives one vote.
President Donald Trump spoke with reporters at the White House, Monday, August 11, 2025 at the James Brady Press Briefing Room. Trump on Tuesday reduced his pressure on Federal Reserve President Geom Powell to threaten to prosecute the Central Bank’s $ 3.1 billion renewal project. (AP Photo/Alex Brandon)
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FOMC is not scheduled to meet again from 17–18 to September, which means an emergency meeting would be the only way to cut rates in advance.
Last month, rape. Anna Paulina Luna, R-Flad., Referred to Pavel to the Department of Justice (DOJ) for criminal allegations, accused of lying about the grand facilities in the Excel Building of the Federal Reserve and incorrectly presenting the kingdom of its maintenance.
Fox News’ Greg Vehner, Eric Revell and Rachel Wolf contributed to this report.
