Trump Criticizes Fed Chair Powell Over Interest Rates and Building Costs

Former President Donald TRUMP escalated his ongoing criticism of Federal Reserve Chair Jerome Powell, demanding lower interest rates in a Truth Social post. "Too Late" DEMEANS THE GREAT CREDIT OF THE USA," Trump wrote, claiming the U.S. now holds the top global credit position. "The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!"

The outburst followed a letter from Trump’s former budget chief, Russell Vought, accusing Powell of mismanaging a $2.5 billion renovation of the Fed’s headquarters—$700 million over budget. Vought likened the project’s extravagance to the "Palace of Versailles," citing a cost of $1,923 per square foot, double the typical rate for federal buildings.

The clash underscores Trump’s persistent feud with the central bank, which he has repeatedly accused of undermining economic growth through restrictive monetary policy.