President Donald Trump is taking aim at what he calls wasteful government spending, criticizing a $3.1 billion renovation of the Federal Reserve building and promising to restore order and beauty to the nation's capital.
In a post on Truth Social Sunday, Trump announced he would hold a press conference Monday morning inside the White House Press Briefing Room to talk about "crime, cleanliness, and the physical condition" of Washington, D.C.
"We're not going to allow people to spend $3.1 billion on fixing up a building, like the Federal Reserve," Trump said. "It could have been done much better and much faster for $50 to $100 million."
His comments come just weeks after a heated exchange with Federal Reserve Chair Jerome Powell during a tour of the central bank's headquarters, which is currently under construction.
According to FoxBusiness, when Trump claimed the project cost was $3.1 billion, Powell disagreed, saying the number included older, unrelated work.
Trump insisted the figure was accurate, saying, "It's part of the overall work." Powell replied, "It's not new," but did confirm the Fed is preparing for more possible cost overruns, though none are expected right now.
Later, Trump told reporters, "It's a very expensive project that got out of control. It's too bad it started, but I'd like to see it get finished."
🚨 BREAKING: Trump just dropped a bombshell — DC is about to get a total makeover.
— Braxton (@Deeplythough885) August 10, 2025
He’s tackling crime, homelessness, and even rolling out major beautification and renovation plans. Federalization is officially here.
He’s calling out the insane $3.1B waste on the Federal… pic.twitter.com/YPCpsgLTw6
Trump Orders Task Force to Clean Up Nation's Capital
Trump's remarks are part of a broader campaign message focused on reviving Washington, D.C. He tied the renovation cost to what he sees as the city's deeper problems, including crime and homelessness.
In response to a recent assault involving two teens and a former government worker, Trump signed an executive order to create a special task force to address public safety and city cleanup.
"We want our Capital BACK," Trump said in another Truth Social post. "The Homeless have to move out, IMMEDIATELY. We'll give you places to stay — but far from the Capital. The Criminals? You're going to jail where you belong."
He added, "No more Mr. Nice Guy," and said action would happen fast, comparing it to past immigration crackdowns, TOI said.
Trump has also clashed with Powell over economic policy, urging the Fed to cut interest rates. When Powell didn't move quickly, Trump publicly called him a "stubborn moron" and demanded the Fed Board take control.
The Federal Open Market Committee, which sets interest rates, isn't scheduled to meet again until mid-September.
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