Trump tours Fed construction with Powell in awkward encounter

President Donald Trump and Federal Reserve Chairman Jerome Powell sparred in front of the press over the central bank’s construction spending after Powell took Trump on a private tour of the central bank’s headquarters renovations.

It is unusual for presidents to visit the Fed’s headquarters, and the moment was made particularly awkward given Trump’s attacks against Powell over his refusal to lower interest rates. The Trump administration has pointed to the expensive renovations as examples of Powell’s mismanagement of the Fed. The visit to the Fed building on Constitution Avenue was billed as giving administration officials a chance to see the construction firsthand.