Trump Slams Fed Chair Over $2.5 Billion Renovation

President Trump renews his criticism of Fed Chair Jerome Powell, spotlighting a costly renovation of Fed buildings as potential grounds for removal

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Projected at $1.9 B, the renovation has surged to approximately $2.5 B, prompting questions about budget oversight and possible mismanagement

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Trump suggests fraud may be involved, calling Powell a “numbskull” and “moron” — saying high costs could trigger his dismissal “for cause”

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Powell insists the renovation complies with the National Capital Planning Commission of 2021, with only small design tweaks to reduce costs and delays

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The project includes essential repairs: asbestos and lead removal, plumbing, HVAC, fire safety systems – all of which are costly but necessary

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Experts say there’s no solid proof of wrongdoing, making it unlikely Trump can legally remove Powell. A court must see malfeasance or neglect “for cause”

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Powell has asked the Fed’s inspector general to conduct an independent review of the renovation’s cost, aiming to increase transparency

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