Trump condemned the excessive costs of the $3.1 billion renovation project, which was higher than the Federal Reserve's reported $2.5 billion figure. Powell stood beside him, confused and clarified that Trump included costs from the Martin Building's renovation completed five years prior. Trump expressed his disappointment, asserting that he would terminate someone in his real estate career for cost overruns. He humorously suggested he would ease up on Powell if interest rates were lowered, highlighting their contentious relationship over fiscal policy decisions.
Trump expressed his frustration with the renovation cost, stating it was $3.1 billion, while Powell remained silent, indicating a discrepancy with the Fed's figure of $2.5 billion.
Powell seemed puzzled by Trump's claim, clarifying that the president included costs from a renovation completed five years earlier, leading to confusion.
Trump humorously commented on his past experiences as a developer, mentioning he would terminate someone for cost overruns, suggesting rigorous management standards.
In a light-hearted exchange, Trump mentioned he would reconsider his stance on Powell if interest rates were lowered, signaling a possible negotiation.
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