Trump Doubles Down On Powell
President Donald Trump said this week that he is exploring possible legal options involving Jerome Powell, citing what he described as serious mismanagement tied to expensive renovation projects at the Federal Reserve’s headquarters.
The remarks came during a press appearance alongside Israeli Prime Minister Benjamin Netanyahu, where Trump voiced frustration over rising costs connected to buildings he characterized as modest in size.
According to the president, the renovation project should never have escalated to its current price tag.
“These aren’t grand or historic structures,” Trump told reporters. “They’re small buildings, and the cost increases don’t make sense.”
Trump placed responsibility squarely on Powell, arguing the project moved forward under his leadership and reflected poor oversight.
“This was his project,” Trump said. “In my opinion, it shows a lack of competence in managing taxpayer-related resources.”
The president has repeatedly criticized what he sees as unchecked spending within federal institutions, particularly at a time when Americans are facing persistent inflation, higher interest rates, and growing concerns about economic stability.
The Federal Reserve, however, has disputed claims of mismanagement. Officials note that the renovation was initially approved in 2017 and has been reviewed annually by the Fed’s board of governors. The central bank has also published public documentation explaining the timeline, scope, and cost factors involved in the project.
Trump originally selected Powell to lead the Federal Reserve during his first term in office. Powell was later reappointed to a second term by then-President Joe Biden.
While Trump has previously suggested removing Powell, he acknowledged that the chairman’s current term is set to expire in May, making immediate action less certain.
“He should consider stepping aside,” Trump said earlier this week. “It would be in the country’s best interest.”
Trump added that although he believes he has the authority to dismiss Powell, the proximity of the term’s conclusion complicates the decision.
“I’d like to see accountability,” Trump said. “We’re close to the end, but we’ll see how it plays out.”
The dispute highlights a broader debate over transparency and fiscal responsibility at powerful institutions that operate largely outside the public spotlight — an issue that continues to resonate strongly with many voters concerned about government spending and economic leadership.
