Trump locked horns with Powell, criticizing the cost of renovating two historical buildings at the Fed headquarters and pressing the case for lower interest rates

Agencies WASHINGTON

President Donald Trump has repeatedly demanded Federal Reserve Chair Jerome Powell slash rates by 3 percentage points or more.  “I’d love him to lower interest rates,” Trump said during a rare presidential visit to the US central bank on Thursday. President Donald Trump locked horns with Powell, criticizing the cost of renovating two historical buildings at the Fed headquarters and pressing the case for lower interest rates.

Trump claimed the renovation project was over budget at a $3.1 billion price tag, while Powell pushed back and said the president was including an extra building that had been renovated five years ago. The Fed has maintained that renovation costs are $2.5 billion, an increase from $1.9 billion. Trump ended his tour afterward by saying he wanted the renovation to be completed and Powell to aggressively cut benchmark interest rates. The Fed chair has refrained from responding to Trump's taunts on social media.