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.
When the renovation project was approved in 2017, the budget was $1.9 billion. It has since increased to $2.5 billion because of inflation, asbestos and soil contamination, and extended timelines.
The president stated during the tour that the price tag has increased by an additional $600 million.
“It looks like it’s about $3.1 billion. Went up a little bit, or a lot,” Trump said….
Trump Visits Federal Reserve Construction Site Amid Cost Overrun
