President Donald Trump and Federal Reserve Chairman Jerome Powell went back and forth in front of the press Thursday over Trump’s claims about cost overruns at the Fed headquarters in Washington.
The stunning side-by-side took place as Trump began a rare tour of the Fed building, in what was widely seen as the latest chapter in his pressure campaign to get Powell to lower interest rates or resign as the central bank chairman.
But Trump also suggested that he was abandoning any consideration of firing Powell, despite floating that unprecedented and legally contested idea earlier this month.
VIDEO 07:26 - Pres. Trump and Fed Chair Jerome Powell speak to reporters, disagree over renovation figures
“To do that is a big move, and I just don’t think it’s necessary,” Trump told reporters after his brief spat with Powell.
“I believe that he’s going to do the right thing,” Trump added.
The president visited a construction area at the Fed where costly yearslong renovations of two historic Fed buildings are taking place. The renovations have recently become the focus of Trump’s criticism of Powell.
Shortly after his arrival, Trump and Powell were seen touring the site together, both wearing white hard hats.
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