American Majority Co. CEO Ned Ryun discusses the possible resignation of FED chairman Jerome Powell and the economic plans of President Donald Trump on ‘The Bottom Line’.
White House Deputy Staff Chef James Blair will be the Federal Reserve’s Head office Thursday to inspect the renovation project of the Central Bank.
The revelation, announced in a post on X, comes as president Donald Trump Places the debt square on the Federal Reserve chairman Jerome Powell for the rising renovation costs.
Photos: The $ 2.5 billion renovation of the FED annoying President Trump and Team
The project to update the two most important Washington, DC, DC, office buildings in the foggy Bottom neighborhood is planned to cost $ 2.5 billion. The FED, not taxpayers, finances the renovation.
Build on the Marriner S. Eccles Federal Reserve Building in Washington, July 14, 2025. (Al Drago / Bloomberg via Getty Images / Getty images)
Powell has previously told the legislators that the cost overruns are due to unexpected construction challenges and the inflation percentage of the nation.
“There is no new marble,” Powell told members of the Senate Bank Committee in June. “There are no special lifts. They are old lifts that have been there. There are no new water features. There are no beehives and there are no roof gardens.”
Earlier in July, Office of Management and Budget Director Russell Vought sent a letter to Powell The building over mention “a flashy overhaul”.
Powell shot back in his own letter.
The Marriner S. Eccles Federal Reserve building under construction in Washington, July 14, 2025. (Al Drago / Bloomberg via Getty Images / Getty images)
He said that both buildings “needed significant structural repairs and other updates”, referring to the removal of asbestos and lead pollution and a replacement of some electrical, sanitary, ventilation, fire detection and oppressing systems.
The tensions between Powell and Trump have largely been deteriorated about the decisions of the central bank and wider monetary policy. Trump has instructed the Fed to lower rates, which he says it could save the nation “hundreds of billions of dollars”.
A look at the unfolding battle between Trump and Powell on FED policy
Powell has kept the most important loan percentage of the central bank within a range of 4.25% to 4.5%, so that a cautious approach is followed to gauge the economic impact of Trump’s rates.
Trump recently told reporters in the White House that Powell did a “bad work” and said that “so many people” called to beg for the role at the helm of the American central bank.
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The president also said that he would most likely not fire Powell before his term of office in May, but added that he would “exclude nothing.”
