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POLITICS

Critical of renovation costs, Trump tours Federal Reserve building in Washington

July 24, 2025, 5:35 p.m. ET
President Donald Trump walks with Federal Reserve chair Jerome Powell (R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025.
President Donald Trump walks with Federal Reserve chair Jerome Powell (R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Chip Somodevilla, Getty Images
President Donald Trump speaks with Federal Reserve chair Jerome Powell (R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
President Donald Trump speaks with Federal Reserve chair Jerome Powell (R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
President Donald Trump(3rd L), Federal Reserve chair Jerome Powell(L) and Republican Senator Tim Scott visit the Federal Reserve in Washington, DC, on July 24, 2025.
President Donald Trump(3rd L), Federal Reserve chair Jerome Powell(L) and Republican Senator Tim Scott visit the Federal Reserve in Washington, DC, on July 24, 2025.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
President Donald Trump visits the Federal Reserve with US Senator Tim Scott (L), Republican of South Carolina, and Federal Reserve chair Jerome Powell (R) in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
President Donald Trump visits the Federal Reserve with US Senator Tim Scott (L), Republican of South Carolina, and Federal Reserve chair Jerome Powell (R) in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
(L-R) Sen. Tim Scott (R-SC), President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
(L-R) Sen. Tim Scott (R-SC), President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Chip Somodevilla, Getty Images
President Donald Trump listens to Federal Reserve chair Jerome Powell (2nd R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy. Trump -- who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority -- has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
President Donald Trump listens to Federal Reserve chair Jerome Powell (2nd R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy. Trump -- who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority -- has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
White House Press Secretary Karoline Leavitt participates in a tour of the Federal ReserveÕs $2.5 billion headquarters renovation project with President Donald Trump and Federal Reserve Chair Jerome Powell, on July 24, 2025 in Washington, DC.
White House Press Secretary Karoline Leavitt participates in a tour of the Federal ReserveÕs $2.5 billion headquarters renovation project with President Donald Trump and Federal Reserve Chair Jerome Powell, on July 24, 2025 in Washington, DC.
Chip Somodevilla, Getty Images
President Donald Trump and Federal Reserve chair Jerome Powell (2nd R) listen to a worker as US Senator Tim Scott (L), Republican of South Carolina, and Office of Management and Budget (OMB) Director Russell Vought (C) look on as Trump visits the Federal Reserve in Washington, DC, on July 24, 2025.
President Donald Trump and Federal Reserve chair Jerome Powell (2nd R) listen to a worker as US Senator Tim Scott (L), Republican of South Carolina, and Office of Management and Budget (OMB) Director Russell Vought (C) look on as Trump visits the Federal Reserve in Washington, DC, on July 24, 2025.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
Office of Management and Budget (OMB) Director Russell Vought walks through the construction site as US President Donald Trump visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
Office of Management and Budget (OMB) Director Russell Vought walks through the construction site as US President Donald Trump visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
President Donald Trump descends a set of stairs as he tours the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025, in Washington.
President Donald Trump descends a set of stairs as he tours the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025, in Washington.
Chip Somodevilla, Getty Images
President Donald Trump descends a set of stairs as he tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
President Donald Trump descends a set of stairs as he tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Chip Somodevilla, Getty Images
President Donald Trump speaks as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy. Trump -- who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority -- has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
President Donald Trump speaks as he visits the Federal Reserve in Washington, DC, on July 24, 2025. Trump arrived for a tour of the US Federal Reserve as the president escalates pressure on its chairman Jerome Powell over the central bank's management of the economy. Trump -- who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority -- has threatened to fire the Fed chief over cost overruns for a renovation of its Washington headquarters.
ANDREW CABALLERO-REYNOLDS, AFP Via Getty Images
Sen. Tim Scott (R-SC) delivers remarks alongside President Donald Trump (R) and Office of Management and Budget Director Russell Vought as they tour the Federal ReserveÕs $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Sen. Tim Scott (R-SC) delivers remarks alongside President Donald Trump (R) and Office of Management and Budget Director Russell Vought as they tour the Federal ReserveÕs $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Chip Somodevilla, Getty Images
(L-R) U.S. Sen. Tim Scott (R-SC), President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
(L-R) U.S. Sen. Tim Scott (R-SC), President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve's $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell.
Chip Somodevilla, Getty Images
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