Donald Trump insisted it was not ‘necessary’ to fire the boss of the Federal Reserve after the pair clashed during a rare presidential visit to the central bank.
In footage broadcast live on US television, the President attacked Jerome Powell over the ‘very expensive’ renovation of two buildings at the Fed’s headquarters in Washington.
Trump said the figures had ‘just come out’ and presented Powell with a piece of paper apparently showing the cost of the project has risen from £2billion to £2.3billion.
A surprised Powell said: ‘I’m not aware of that, Mr President. I haven’t heard that from anybody at the Fed.’
Difference of opinion: Donald Trump attacked Jerome Powell over the ‘very expensive’ renovation of two buildings at the Fed’s headquarters in Washington
Handed the piece of paper, he said the figure included work already done on the Fed’s Martin Building. Asked what he would do if one of his building managers let costs overrun to such an extent, Trump said: ‘I’d fire him.’
But the President – who this week called Powell a ‘numbskull’ for not lowering interest rates – later added that he does not plan to fire the Fed chief.
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