U.S. President Donald Trump stated that he knows nothing about the ongoing investigation regarding Federal Reserve Chairman Jerome Powell, an investigation that led the U.S. Department of Justice to issue subpoenas to officials at the central bank.
In a brief interview with NBC News, Trump commented, “I don’t know anything about it, but he’s certainly not good at running the Fed, and he’s not good at building buildings.”
Powell caused a major shock in global economic circles last Sunday evening after announcing that the Federal Reserve had received subpoenas and that there was a threat of a possible indictment against him.
It is worth noting that Powell appeared before the Senate Banking Committee last June for questioning regarding the project to renovate the central bank’s headquarters in Washington, D.C., which is estimated to cost $2.5 billion. During the session, he denied any signs of extravagance in the project, contrary to what was stated in the approved planning documents in 2021.
The following month, Trump toured the project site with Powell, and the two appeared in formal suits and hard hats, answering questions from reporters. During the tour, a public dispute arose over the actual cost of the project, with Trump stating that the cost was $3.1 billion, while Powell asserted that this figure included the cost of renovating an additional building that was not part of the original project.
