Striking a somewhat cordial tone, President Donald Trump took to Truth Social on Thursday evening, after an awkward meeting with Fed Chairman Jerome Powell, whom Trump has repeatedly said should lower interest rates for Americans.
Trump and Powell toured a controversial renovation project during the visit. The president said online that it would have been better if the renovation, which is costing taxpayers billions of dollars, had never started.
“It was a Great Honor to tour the Renovation (and some new Construction!) of the Federal Reserve Building with Chairman Jerome Powell, Senator Tim Scott, and others,” Trump posted. “It’s got a long way to go, would have been much better if it were never started, but it is what it is and, hopefully, it will be finished ASAP.”
Trump noted that the “cost overruns are substantial,” but said, “on the positive side, our Country is doing very well and can afford just about anything — Even the cost of this building!”
“I’ll be watching and, hopefully, adding some expertise. As everyone knows, I renovated the Old Post Office on Pennsylvania Avenue, and it was a roaring SUCCESS. The total Construction cost was a small fraction of the Fed Building’s cost, and it is many times the size,” the president said.
Signing off, Trump again said he wants interest rates lowered.
“With all of that being said, let’s just get it finished and, even more importantly, LOWER INTEREST RATES!” he posted.
As highlighted by The Daily Wire, Powell looked uncomfortable during the meeting, when Trump revealed that the renovations tab had increased to $3.1 billion. Powell contented the figure, arguing that the estimate included some older renovations.
Earlier this month, Trump said he asked a group of House Republicans if they thought he should fire Powell. “I talked to them about the concept of firing him. I said, ‘What do you think?’ Almost all of them said I should. But I’m more conservative than they are,” Trump said.
“We’re not planning on doing it,” the president added. “I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”
Russ Vought, the Office of Budget and Management director, sent a letter to Powell accusing him of orchestrating an “ostentatious” years-long office renovation project that may be “violating the law.”
Reacting to the letter, Trump said last week that Powell “spent far more money than he was supposed to rebuilding.”
“I think he’s, you know, he’s got some problems,” Trump added.
Related: AWKWARD! Trump Prods Jerome Powell About Renovation Controversy During Fed Visit
