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Tuesday 30 July 2024 05:20:11 GMT
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President Trump and Federal Reserve Chair Jerome Powell had a public disagreement at the Fed's headquarters in Washington on Thursday to survey an extensive renovation project on two of the reserve's buildings. Trump and Powell appeared side by side on the construction site — both in hard hats — with the president insisting costs have increased further, reaching $3.1 billion. Powell shook his head and said he hadn't heard that figure from anyone at the Fed. The Fed has been renovating its Washington headquarters and a neighboring building. With some of the construction occurring underground and as building materials have soared in price after inflation spiked in 2021 and 2022, the estimated cost has ballooned to about $2.5 billion from $1.9 billion. Last week, Trump indicated that Powell's handling of the massive project and its cost overruns could be grounds for firing. #news #Trump #Fed #Powell #government #politics
President Trump and Federal Reserve Chair Jerome Powell had a public disagreement at the Fed's headquarters in Washington on Thursday to survey an extensive renovation project on two of the reserve's buildings. Trump and Powell appeared side by side on the construction site — both in hard hats — with the president insisting costs have increased further, reaching $3.1 billion. Powell shook his head and said he hadn't heard that figure from anyone at the Fed. The Fed has been renovating its Washington headquarters and a neighboring building. With some of the construction occurring underground and as building materials have soared in price after inflation spiked in 2021 and 2022, the estimated cost has ballooned to about $2.5 billion from $1.9 billion. Last week, Trump indicated that Powell's handling of the massive project and its cost overruns could be grounds for firing. #news #Trump #Fed #Powell #government #politics
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