Donald Trump publicly criticized Federal Reserve Chairman Jerome Powell on Thursday over the budget for a major building upgrade as the two officials inspected the ongoing project.
The president claimed that the cost had reached $3.1 billion, significantly higher than the Fed's estimate of $2.5 billion. Powell, standing nearby, shook his head silently.
“Is that our expense?” Powell asked, later suggesting Trump was referring to the Martin building's renovation five years ago.
“Are there any plans for additional budget overruns?” the president asked.
“Don't count on it,” the Fed chief responded.
Trump noted that in his development practice, he fired employees for similar financial violations.
The head of state jokingly stated that he would abandon Powell's approaches if he agreed to lower key rates.
Sourse: breakingnews.ie
