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Trump: Stance on Firing Powell Conservative Unless Fraud Found in Fed Renovation
BlockBeats News, July 17: Trump: Discussed the "concept of firing (Fed Chair Powell)" with Republicans, unless there is fraud during the Fed's renovation process, the federal government's reconstruction project may involve fraud. Republican officials are pushing for Powell's dismissal, my position is more conservative. (FXStreet)
BlockBeats Note: The budget for the renovation of the Federal Reserve headquarters building has surged from $1.5 billion to $2.5 to $2.6 billion, far exceeding expectations, and rumors suggest extravagant facilities such as a rooftop garden and a private elevator, triggering public and political skepticism about its extravagance. Trump and others took the opportunity to criticize Fed Chair Powell and questioned his transparency. The Fed responded that the overspending was due to rising material costs and unexpected issues, with funds coming from its own income rather than taxpayers, but the controversy has not subsided, potentially affecting its reputation and independence. The market speculates that Trump may seize this opportunity to make a big deal out of firing Powell.
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