Daijiworld Media Network - Washington
Washington, Jul 19: US President Donald Trump has once again turned his ire toward Federal Reserve Chair Jerome Powell, this time over the $2.5 billion renovation of the Fed’s historic Washington headquarters. Trump has questioned the extravagant spending—particularly the use of premium white Georgia marble—despite evidence showing the material was promoted by his own appointees during his first term.
The building, dating back to the Great Depression era, underwent a redesign that initially aimed for transparency with glass walls. But Trump-era members of the Commission of Fine Arts objected, insisting on traditional marble to match the architecture of nearby government buildings. Eventually, marble was added, according to commission records.
While Trump’s team now cites the marble as an example of waste, critics note that this choice stemmed from policies Trump himself championed. Harvard professor Alex Krieger, a former commission member, said the added marble likely increased costs, which have ballooned by $600 million beyond initial estimates. The total project includes not just the facade but underground parking and new glass atriums.
Powell defended the renovation in Congress, stating that some features were removed to reduce costs. But White House officials are now questioning whether he misled lawmakers or altered plans without approval. Trump has hinted that unless “fraud” is proven, he is unlikely to fire Powell before his term ends in May 2026—though legal scholars warn such a move could destabilize markets and damage the Fed’s independence.
The controversy deepens with Trump’s revived executive order favoring classical architecture, and his past opposition to modern designs. Though the Biden administration briefly reversed that order, Trump reinstated it on his return to office.
As scrutiny grows, so does the risk that this architectural feud could spiral into a broader political and economic conflict, with the future of the central bank's leadership hanging in the balance.