Donald Trump criticized Federal Reserve Chairman Jerome Powell, labeling him a 'numbskull' for maintaining high interest rates, which he believes hinder housing purchases. Trump suggested that Powell's decisions may be politically motivated. During a tour of the Federal Reserve’s renovated headquarters, Trump raised concerns about cost overruns, adjusting figures from 2.7 billion to 3.1 billion, to which Powell responded with surprise, correcting him about the inclusion of a previously finished building's costs. Trump reiterated his call for Powell to lower interest rates during their visit, highlighting ongoing tensions.
'Our economy is so strong now, blowing through everything. We're setting records,' Trump said. 'But you know what? People aren't able to buy a house because this guy is a numbskull.'
Trump criticized Powell for keeping interest rates too high, claiming it was hurting people's ability to buy homes and insinuating political motivations behind the Fed chair's decisions.
During a tour of the Federal Reserve's headquarters, Trump expressed concerns about the cost overruns of renovations, indicating a figure change from 2.7 billion to 3.1 billion.
Powell responded to Trump's claims about the finances, stating he was unaware of the president's assertions regarding the renovation costs and corrected him about a previous building.
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