Sen. Rick Scott, R-Fla., discusses the June CPI report and President Donald Trump calling on Fed Chair Jerome Powell to decrease rates of interest on ‘The Backside Line.’
Requested Tuesday whether or not he thought Jerome Powell’s habits surrounding the renovations of the Federal Reserve constructing was a “fireable offense,” President Donald Trump stated he thought it was, calling the debacle “fairly disgraceful.”
The president pointed to Powell’s testimony earlier than the Senate Banking Committee in June.
Throughout his remarks, the Federal Reserve Chairman rejected the notion that latest renovations on the Federal Reserve headquarters in Washington, D.C., and two adjoining buildings – which Powell admitted are over finances – included lavish new options like marble, VIP eating rooms, particular elevators, roof terrace gardens, beehives and new water options.
TRUMP SAYS POWELL SHOULD RESIGN IMMEDIATELY FROM FEDERAL RESERVE LEADERSHIP POSITION OVER ECONOMIC MISSTEPS
President Donald Trump and Federal Reserve Chair Jerome Powell. (Getty Photos/Photograph illustration / Getty Photos)
“They spent $2.5 million constructing this place. I’ve to say this. I feel he is horrible. I feel he is a complete stiff. However the one factor I did not see him is a man that wanted a palace to dwell in,” Trump informed reporters Tuesday.
“You speak to the man. It is like speaking to – nothing. It is like speaking to a chair. No character, no excessive intelligence, no nothing. However the one factor I might have by no means guessed is that he could be spending $2.5 billion to construct a bit of extension unto the fed no one’s ever seen.”
Trump has been venting his frustrations with Powell to the media over the previous few weeks, upset that he has not lowered rates of interest rapidly sufficient, noting he acted aggressively to lift charges below his predecessor Joe Biden.
TRUMP VS POWELL: AN UGLY FIGHT WE DON’T NEED
Development on the Marriner S. Eccles Federal Reserve constructing in Washington, DC, US, on Monday, July 14, 2025. (Al Drago/Bloomberg by way of Getty Photos / Getty Photos)
“That is going to be much more cash than $2.5 billion to develop. And with all of that to accommodate 1000’s of individuals to present him info. And but out of the 71 economists – and so they included me, me and one different individual received it proper, I received it proper. I received it proper and one different genius received it proper and all people else was flawed. Sixty-nine had been flawed and two had been proper. I used to be one among them. And I haven’t got lots of people. I’ve ours – I’ve Doug, I’ve a couple of folks. He has 1000’s of individuals, and he received it flawed,” Trump stated to reporters whereas touring from a man-made intelligence occasion at Carnegie Mellon College.
“No, I feel whenever you spend $2.5 billion on, actually a renovation, I feel it is fairly disgraceful.”
U.S. President-elect Donald Trump at a Home Republicans Convention assembly on the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. (Allison Robbert-Pool/Getty Photos / Getty Photos)
Throughout his gaggle with reporters, the president additionally spoke about looming commerce offers and tariffs.
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Trump stated he expects round 5 or 6 offers with different main nations to get locked by his August 1 deadline, whereas including that he plans to ship out a letter in some unspecified time in the future “speaking about many nations which are a lot smaller,” resembling nations in Africa and the Caribbean, addressing how they are going to be impacted by tariffs.
Trump stated it might pertain to round 200 smaller nations when he was pressed on the matter by reporters.
