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President Donald Trump is once again taking aim at one of his favorite targets
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Fed Chairman Jerome Powell. Trump, who has dubbed him too late Powell for Powell's refusal
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to lower interest rates, is now criticizing Powell for the cost of the Federal Reserve
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building renovation project in Washington, D.C. On Tuesday, the president indicated the cost of
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construction on the aging Federal Reserve building and a building next to it, quote
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sort of is a reason to fire Powell. Powell has refused to give in when it comes to lowering
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interest rates. They remained between 4.25% and 4.5% for a fourth consecutive meeting of the
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Federal Reserve in June. Just yesterday, following the government report showing inflation ticking up
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to 2.7% in June, Trump wrote on Truth Social, Fed should cut rates by three points. Very low
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inflation. $1 trillion a year would be saved. Now the president is mixing both the interest
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rate issue and the renovation costs that Powell is overseeing. This is how he addressed reporters
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this week. Watch. Jerome Powell's been very bad for our country. We should have the lowest interest
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rate on earth, and we don't. He just refuses to do it, and yet he's spending two and a half
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billion dollars rebuilding the Fed, the Federal Reserve building. And I don't know what he knows
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about building, but you talk about cost overruns. Powell already had asked the central bank's
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Inspector General, to look into the project's costs. He also has defended the renovations
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saying reports of bad management are misleading and inaccurate. Powell's term runs until May of
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2026. If he were to be fired, it would likely rattle the financial markets
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