Marble Controversy: Trump's Struggle with Federal Reserve Renovations
President Donald Trump and Federal Reserve Chair Jerome Powell are at odds over the marble-heavy renovation of the Fed's headquarters. Despite Trump's criticism of the project's cost, the extensive use of marble was initially backed by Trump appointees. The renovation, budgeted at 2.5 billion USD, continues to stir political controversy.
- Country:
- United States
President Trump finds himself embroiled in a dispute with Federal Reserve Chair Jerome Powell over the costly renovation of the Fed's headquarters, a project marked by its extensive use of marble. The controversy underscores tensions between Trump and Powell, focusing heavily on interest rates and architectural preferences.
The renovation originally clashed with Trump's views on fiscal conservatism. Ironically, the demand for "white Georgia marble" stems from Trump-appointed members of a local commission who favored the material for its historic appeal. The White House's narrative, aiming to use the project's costs as justification for firing Powell, appears increasingly muddled.
With the renovation budget over 2.5 billion USD, inclusive of updates like an underground garage, the marble's legacy persists. As legal debates loom over Trump's desire to remove Powell, allegations of mismanagement and poor oversight threaten to destabilize confidence in the Fed's independence.
(With inputs from agencies.)
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