WATCH: Donald Trump argues with Federal Reserve Chair on live TV over building renovation costs

United States President Donald Trump on Thursday (US time) bickered with Federal Reserve Chair Jerome Powell on live television. The two argued about the costs of renovating the Fed's headquarters even as the cameras were recording them. This comes after Trump, 79, criticised the Fed chief left and right, on social media as well as in front of reporters. Thursday also marked the first time a sitting US president visited the Federal Reserve office in Washington, DC.

What did Trump and Powell say?
The verbal exchange between Trump and Powell took place as the Fed building was still under construction, with both of them seen wearing safety hats. "It looks like it's about USD 3.1 billion," Trump said, referring to the renovation budget. In response, Powell shook his head and remarked: "I'm not aware of that. I haven't heard that from anybody at the Fed." Trump went on to take out a paper from his jacket and handed it to Powell. The banker then took a quick look, saying the president was adding a "third building" to arrive at the amount. "It's a building that's being built," Trump said, to which Powell replied: "It's a building that was built five years ago...it's not new."

What does Trump want with Fed?
In a later post on the Truth Social platform that he owns, Trump wrote: "Let's just get it finished (the renovation work) and, even more importantly, lower interest rates!" Trump has, for months, slammed Powell for not cutting down interest rates, even pressuring the Fed chief to step down. The US president, who started his second term this January, has called Powell various names, including a "stubborn mule," "Trump hater," and "numbskull." He has also hinted at the possibility of firing him.

You can watch the video here:

President Trump confronts Jerome Powell at the Federal Reserve. I like this approach. I can think of a few others in government who need to be confronted to their faces just like this! pic.twitter.com/NmoLu9VXJS

— Suburban Black Man (@niceblackdude) July 24, 2025