Donald Trump awkwardly corrected after making major blunder during latest public appearance
President Donald Trump met with Federal Reserve Chair Jerome Powell face-to-face on Thursday (24th July), and the meeting didn't exactly go smoothly.
Yesterday, the 79-year-old took a trip to the Federal Reserve to tour the central bank’s Washington headquarters to see how the ongoing renovations are coming along.
For those unfamiliar, the Federal Reserve System is the central bank of the United States, overseeing the effective operation of the US economy.
Powell is the head of the US central bank and has recently faced relentless attacks from Trump on social media and in the press, with the Republican leader claiming he’s moving too slowly to cut interest rates.
Advert
As the two were touring the construction site, the conversation turned to the renovation costs, with Trump claiming they were now looking at ‘about $3.1 billion’.
However, Powell was stood next to him, shaking his head in disagreement, before jumping in with: "I’m not aware of that."
Doubling down, Trump then pulled a piece of paper out of his pocket and said: “Yeah, it just came out.”
“I haven’t heard that from anybody at the FED. This came from us?,” asked Powell, as he scanned the document.
Trump pointed at the paper and continued: “Yes, I don’t know who does that.”
However, it seems that Trump’s numbers had included an older building that was finished five years ago - something which Powell quickly realised.
He then asked: “Oh, you’re including the Martin renovation? You just added in a third building. That’s what that is, that’s a third building.”
Not backing down, Trump argued back: “But it’s a building that’s being built.”
However, he was swiftly corrected by Powell, who clarified that they'd 'finished Martin five years ago'.
Despite slipping up on this fact, the president refused to back down, however, and said ‘it’s a part of the overall work’.
But after a petty back-and-forth to get the last word in, Powell simply stated: “It’s not new.”
Attempting to change the subject, Trump then asked if they would expect 'any more additional cost overruns', to which Powell said not to.
However, the uncomfortableness didn't end there, as a reporter asked the US president how as a real estate developer, he would ‘deal with a project manager who would be over budget’.
With Powell still standing next to him, Trump responded: “Generally speaking, what would I do? I’d fire ‘em.”
Not awkward at all…
The interaction comes following Trump branding Powell a 'numbskull', among other names, as he faces mounting pressure from the president to lower interest rates - something which the Fed chair has been reluctant to do.
Though he'd previously suggested firing Powell, he seems to have gone back on this idea, saying it would be a 'big move' to sack him.
"To do that is a big move, and I just don’t think it’s necessary, and I believe he’s going to do the right thing." the former businessman said.
Following his visit to the reserve, he wrote on his social media site, Truth Social, that the building had a 'long way to go' but it was better than nothing, adding: "The cost overruns are substantial but, on the positive side, our Country is doing very well and can afford just about anything — Even the cost of this building!"
Topics: Donald Trump, US News, Politics, Money
Madison Burgess