Trump, Powell tussle over renovation costs in rare visit

President Donald Trump paid a rare visit to the Federal Reserve Board headquarters Thursday afternoon to confront Fed chair Jerome Powell over cost overruns related to a building renovation project that began in 2022. 

Trump and other members of his administration have raised the cost overruns related to the Federal Reserve’s renovation — which topped $2.5 billion, above an expected cost of $1.9 billion — as proof of incompetence on Powell’s part, which could in turn serve as grounds for removal under the Federal Reserve Act. Trump has been vocal about his view that the central bank should lower interest rates substantially and has mused about firing Powell to pursue that goal.

Trump, who was joined on a tour of the ongoing construction project by Powell and Senate Banking…