Senator Rick Scott, R-FLA., Discusses the CPI report of June and President Donald Trump calls on FED chairman Jerome Powell to lower the interest rates on ‘The Bottom Line’.
Asked Tuesday if he thought the behavior of Jerome Powell around the renovations of the Federal Reserve building was a “flammable crime”, President Donald Trump said he thought it was and called the debacle “pretty shameful”.
The president pointed out Powell’s testimony for the Senate banking committee in June.
During his comments, the chairman of the Federal Reserve rejected the idea that recent renovations at the headquarters of the Federal Reserve in Washington, DC and two adjacent buildings – which are Powell admitted budget – include lonely new functions such as Marble, VIP -Waterparts, Dak Terrace gardens.
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President Donald Trump and chairman of the Federal Reserve Jerome Powell. (Getty Images / Photo Illustration / Getty Images)
“They have spent $ 2.5 million building this place. I have to say this. I think he is terrible. I think he is a totally stiff. But all I have not seen him is a man who needed a palace to live in,” Trump told reporters on Tuesday.
“You talk to the man. It’s like talking to – nothing. It’s like talking to a chair. No personality, no high intelligence, nothing. But the only thing I had never guessed is that he would spend $ 2.5 billion to build a small extension to the Fed that nobody has ever seen.”
In recent weeks, Trump has expressed his frustrations with Powell to the media, upset that he has not reduced the interest rates quickly enough and has noticed that he has acted aggressively to increase the rates among his predecessor Joe Biden.
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Build on the Marriner S. Eccles Federal Reserve Building in Washington, DC, US, on Monday, July 14, 2025. (Al Drago / Bloomberg via Getty Images / Getty images)
“That is going to be much more money than $ 2.5 billion to expand. And with all that to accommodate thousands of people to give him information. And yet from the 71 economists and they include me, me and another person are good, I have it good. Doug, I have a few people.
“No, I think when you spend $ 2.5 billion on, really a renovation, I think it’s pretty shameful.”
The US President-Elect Donald Trump during a House Republican Conference Meeting in the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. (Allison Robbert-Pool / Getty Images / Getty Images)
During his couple with reporters, the president also spoke about threatening trade agreements and rates.
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Trump said he expects about five or six deals with other large countries to be locked up by his deadline of August 1, while adding that he is planning to steer a letter at a certain moment “talk about many countries that are much smaller”, such as countries in Africa and the Caribbean, what they will be influenced by tariffs.
Trump said it would relate to around 200 smaller countries when he was put under pressure by reporters.
