President Trump visited a Federal Reserve building in Washington, DC today with Fed Chair Jerome Powell to assess the multibillion-dollar renovations that are going on.
It got awkward for Powell fairly quickly.
The long-simmering clash between President Donald Trump and Federal Reserve Chair Jerome Powell was on full public display during a Thursday afternoon tour of the renovation site at the central bank’s headquarters in Washington, DC.
The tension between the two men was apparent during an exchange about the total cost of the Fed’s renovation project. Trump cited a figure above $3 billion, higher than the $2.5 billion in expected costs. Powell appeared shocked by Trump’s comment and said “I’m not aware of that.”
It couldn't be more clear that Trump has been less than impressed by Powell in that position.
No words were necessary. Powell's expressions said it all as Trump produced the receipts.
That looked deeply awkward for Powell.
Hey, what's an extra few billions taxpayer dollars?
President Trump and Fed Chair Jerome Powell are ARGUING over the cost of the Fed renovations...LMAO.
Within SECONDS of getting up to the cameras, Trump said, the cost rose to $3.1B.
TRUMP: "It went up a lot."
POWELL: Shakes head
TRUMP: "It's now 3.1. It just came out."
POWELL: "No. I haven't heard that." Trump takes out a paper and hands it to Powell
TRUMP: "3.1."
POWELL: "You just added a 3rd building."
TRUMP: "It's a building that's being built...it's part of the overall."
The scene looked a little like when an employee is having an annual evaluation and denies ever having been drinking at a bar during working hours and then the boss pulls out a photo of him drinking at a bar during working hours.
"We have a reserve."
Maybe Powell thinks an endless supply of taxpayer dollars is the "reserve" part of "Federal Reserve."
Things at the federal level in DC have been far too comfortable for a long time, and the shocked reaction to scrutiny and demands for accountability speak volumes and only prove that it's long overdue.
When it comes to lowering rates, Trump wasn't subtle with Powell:
Well, there it is!
Fact check: TRUE. But we still have about 3.5 years to go!