Trump tussles with Jerome Powell on rare visit to Federal Reserve | Federal Reserve

On Thursday, Donald Trump argued with the president of the federal reserve, Jerome Powell, during a rare presidential visit to the headquarters of the Central Bank.

Trump continued his campaign to put pressure on the Fed to reduce interest rates and visited his headquarters in Washington to see expensive renovations that he suggested equivalent to fraud.

Having marked Powell a “numbness” for the recent Fed decisions not to reduce rates, Trump expressed pressure on Powell with criticisms of the $ 2.5 billion bill for the renovation of historic Fed buildings.

Powell and Trump stood in helmets inside the Fed construction site. Undering the president of the Fed to get closer to him, Trump allegedly alleged that the renovations bill would now cost $ 3.1 billion.

“It seems that it is about $ 3.1 billion – it has increased a little or a lot,” said Trump. The generally imperturbable Powell looked visibly irritated, closed his eyes and shook his head. “I’m not aware,” said Powell.

Repacked by Trump, Powell scanned him and said that the new figure included the cost of renovations from the Martin building, a different Fed office that was renovated five years ago. “It’s not new,” said Powell.

Asked by a journalist what he would do if a project manager exceeded the budget, Trump said: “I would dismiss him.

“Listen, I would like to see him finished,” said Trump. “I don’t want to put this in this category.”

The president moved away from the previous statements in which he had suggested that he would fire Powell, a suggestion that rocked the stock markets. Trump said: “Doing it is a big decision, and I don’t think it’s necessary, and I think he’s going to do the right thing.”

The visit to the FED comes less than a week before the 19 decision -makers of the Central Bank met for a two -day meeting, where they should largely leave the central bank interest rate in the range of 4.25% to 4.50%.

Trump demanded that the Fed achieve the rates of three percentage points. Trump has repeatedly demanded that Powell has reduced American interest rates and frequently raised the possibility of dismissing him.

Before Trump’s visit, Fed staff escorted a small group of journalists on construction sites. They woven cement mixers and construction machines and talked about the sound of exercises, strikes and saws.

Fed staff highlighted the safety features, including explosion-resistant windows, which said they were a large cost engine, in addition to rates and equipment and labor costs.

Reuters contributed to this story