‘It looks like it’s about $3.1 billion. Went up a little bit, or a lot,’ the president said.
President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project on in Washington on July 24, 2025. Chip Somodevilla/Getty Images
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Federal Reserve Chair Jerome Powell disputed President Donald Trump’s cost estimate of renovations at the central bank’s Washington headquarters.
Trump and Powell briefly addressed reporters during a July 24 tour of the construction site, which has been a source of controversy because of the project’s cost overruns.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
