Trump pushes Powell to cut interest rates — but says he won’t fire Fed chair

President Donald Trump’s tour was met with a major renewal project in the Federal Reserve Building with anticipation, as Jerome Powell, head of the Federal Reserve, seemed uncertain.

During the president’s visit, his contact with Powell was clear as the two seemed to suffer from a tense exchange during his talk to the media, although Trump said that “there is no tension.”

In recent weeks, Trump has expressed his frustration from Powell not to reduce interest rates, as the president indicated the president’s record of taking quick measures on the prices of former President Joe Biden.

Trump insists on “lack of tension” with Powell after the meeting despite the embarrassing clash on the camera due to the cost of renewal

1. Trump says he does not shoot Powell

When a correspondent asked Trump about what he would do about the budget transcendent project manager – referring to Powell and the renewal of the Federal Reserve – the president said he usually shoots this employee. However, despite his answer and last general criticism of Powell, Trump said that the shooting of the Federal Reserve was an unnecessary step.

“Doing this is a big step, and I don’t think it is necessary. I think he will do the right thing,” Trump told reporters.

The statement contrasts in a flagrant contradiction with a social publication of the truth of April, in which Trump said: “Powell’s end can not come enough quickly!” However, a few days after this post, Trump told the reporters that he “has no intention to launch” Powell “.

Whether Trump shoots Powell or not, the Federal Reserve Chair can soon be outside the door, as his term ends in May 2026.

Trump compares speaking to Powell to “Speak to a Chair” while promoting his economic expectations

2. Powell and Trump argue about the cost estimate of the renewal of federal reserve buildings

In a particularly tense moment in front of the media, Trump and Powell did not agree to the estimated cost of renewal. When Trump said the project was about 3.1 billion dollars, Powell shook his head.

“I am not aware of this,” Powell told the president.

Trump then withdrew a document to show Powell, who was supposed to show the cost he had previously cited. The Federal Reserve Chairman read through the document immediately and said that the number that Trump cited a project that was completed years ago.

The president tried to defend his demand, saying that the building concerned was “part of public work.”

Then he released Powell, saying, “It is not new.”

Trump asked Powell if he expected to have “additional costs” in the renovations, and the Federal Reserve Chairman said no, but “we are ready for them.”

Later in the tour, Trump described the renewal as a “very expensive project” “that came out of control”, although he added, “It is happening. It is a shame.”

President Donald Trump refers to the left, to a document as a federal spare head, Jerome Powell, who is holding the facts on a tour of the Federal Reserve Building, which is currently underwent renovations, in Washington, DC, July 24, 2025 (Reuters/Kent Nishimura/Photo File/Reuters)

A look at the battle that reveals between Trump and Powell on the federal reserve policy

3. Trump hates the project but wants to do it

Trump told correspondents at the Federal Reserve Building that he was “very bad starting”, but he “wants to see him.” The date of the project’s end may be far from the president who had previously hoped, as Powell told reporters that the Federal Reserve does not expect to finish the renovations by 2027.

One of the correspondents asked if Trump believed that the cost of renewal was a fire -renovable crime, which he denied.

“I don’t want to put it in this category,” Trump said. “It is a very complicated thing that could have become simpler,” Trump said.

Real estate head compared celebrity – President – Compare the project at the Federal Reserve Bank with one of his previous deals. Trump claimed that his company spent 200 million dollars to build the old post office hotel – now Hilton – and that it was a “much larger project” than what was happening with the Federal Reserve.

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The President of the Federal Reserve, Jerome Powell, refers to his finger and speaks as President Donald Trump, next to the American Senator Tim Scott (R-SC), looking and listening during a tour of the Federal Reserve Building, which is currently underwent renovations, in W, in W, (Reuters / Kent Nishimura / Reuters)

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4. Trump denies “tension” – but it causes Powell to reduce interest rates

While any “tension” or “pressure” between him and Powell denied that Trump has repeatedly pushed the interest rates during his visit. The president continued to pressure Powell – who was appointed during his first term in 2017 – to reduce rates.

Trump also mentioned the case in a social publication of the truth after the visit, saying: “With everything that is said, let’s finish, and most importantly, the low interest rates!”

On the day before his visit, Trump also focused on the need to reduce prices, and write on the social truth that “housing in our country is backward because Jerome is“ very late ”refuses to Powell the low interest rate (As a state).

Trump began known for the appointment of borrowed names for opponents, and calls Powell “after it is too late”, as his frustration with the frequency of the Federal Reserve Chairman to reduce prices.