<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The look on Federal Reserve Chair Jerome Powell's face said it all.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In a press briefing Thursday afternoon, midway through a </span><a href="https://www.cnn.com/2025/07/24/politics/trump-powell-federal-reserve-visit-renovation"><span>tour of the Fed's ongoing renovation project</span></a><span>, President Donald Trump claimed that the work cost $3.1 billion — about $600 million more than its stated price tag.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The typically stoic Powell looked at Trump and began shaking his head.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/powerball-lottery-lotto-win-brisbane-31-million/1671d346-f324-41f6-b4d0-09bc28937e15" target="_blank"><strong><span>Brisbane grandfather scoops entire $31 million lotto prize</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Went up a little bit — or a lot," Trump said. "And so the 2.7 is now 3.1."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That's when Powell couldn't hold it in any longer. The Fed chair shot Trump a quizzical look that appeared both aghast and confused.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I'm not aware of that," Powell interrupted.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/trump-and-powells-feud-just-exploded-into-the-public-and-then-trump-backed-off/8b4eedf0-e1b7-468f-b9c0-d025b1f3edda" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Yeah, it just came out," Trump said, confidently, handing Powell a piece of folded paper from his inside jacket pocket.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Powell donned his reading glasses and reviewed the document, trying to surmise what Trump was talking about.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This came from us?" Powell asked.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Yes," Trump said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Seven awkward seconds of silence followed, until Powell figured it out: "Oh. You're including the Martin renovation," referring to a Fed building whose construction was completed in 2021. "You just added — you just added a third building."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's a building that's being built," Trump said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"No, it's been — it was built five years ago. We finished Martin five years ago," Powell corrected.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's part of the overall," Trump started.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's not new," Powell interjected.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/anne-burrell-died-by-suicide-medical-examiner-finds/c676d07a-6daa-4bbc-9731-aaf3b789affa" target="_blank"><strong><span>Anne Burrell died by suicide, medical examiner finds</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The tense moment, in which the heavily embattled Fed chair corrected the president in real time, marked an incredible show of force from a public official who has been the </span><a href="https://www.cnn.com/2025/07/24/economy/fed-trump-powell-communications-battle"><span>subject of Trump's increasingly personal attacks</span></a><span> for years — and especially over the past several months, as Trump has lambasted Powell over high interest rates.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump wasn't done. Asked what he'd do in his former capacity as a real estate developer when a project manager went over budget, Trump told reporters, "I'd fire him!"</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Powell, in his capacity as Fed chair, is overseeing the Fed's massive renovation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It seemed as though Trump's scorn for Powell might have reached a tipping point. In an alpha moment, Trump even slapped Powell on the back asking him to lower rates, while chuckling. After another couple questions, the men continued their tour.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But, after the conclusion of the tour, Trump sounded a remarkably different tone. Trump said he didn't want to fire Powell because of the plan's cost overruns.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Look, I would love to see it completed," Trump said when asked if he would fire Powell because of what he saw on the tour. "I don't want to put this in that category."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/thai-and-cambodian-soldiers-fire-at-each-other-in-disputed-border-area/3f97f07a-aca6-4b12-970f-693cedbab8f5" target="_blank"><strong><span>At least 12 killed in deadly clashes as border dispute between Thailand and Cambodia escalates</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump said there was "no tension" between him and Powell on the tour, despite their obvious and awkward public feuding minutes earlier.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I feel good about it," Trump said of the tour and his relationship with Powell.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I mean, look I have one dispute," Trump added, urging Powell to lower interest rates. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Fed has kept interest rates steady during Trump's term after lowering rates twice toward the end of former President Joe Biden's term as inflation fell. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But Powell has said that inflation may creep higher because of Trump's trade policy, and the Fed believes it is prudent to keep rates steady. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Central bank officials meet next week to discuss their next policy move.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump has accused Powell of playing politics, an accusation that the Fed chair has routinely denied.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But Trump, in an possible show of support for Powell, said he had confidence in him.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I believe that the chairman is going to do the right thing," Trump said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Nevertheless, Trump maintained that he has plans to replace Powell when his term expires in May 2026. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump said he has "two people, maybe three" in the running.</span></div></div>