Confused, Powell asked, “This came from us?” before realizing Trump was referencing the Martin Building renovation, completed five years ago. Trump pressed further: “Do you expect any more additional cost overruns?” Powell calmly replied, “Don’t expect them.”
Drawing from his own real estate background, Trump added, “I would have fired someone for that.” He then joked he might ease off Powell if interest rates were lowered.
Tensions Continue Over Interest Rates
This exchange followed Trump’s recent Truth Social post, where he called Powell a “numbskull”. Despite the criticism, Trump said he doesn’t plan to fire him.
Asked whether Powell’s position is at risk, Trump told USA Today,
“To do that is a big move, and I just don’t think it’s necessary.”
He added,
“I believe he’s going to do the right thing… It may be a little too late, but I believe he will.”
Trump Pushes for Lower Rates
Currently, the Federal Reserve has kept interest rates between 4.25% and 4.5%, according to The Guardian. However, Trump continues to push for a drastic cut—down to just 1%.