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President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project on in Washington on July 24, 2025. Chip Somodevilla/Getty Images
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.
