American President Donald Trump publicly ridiculed Jerome Powell on camera who is serving as Federal Reserve Chair, while visiting a building project on July 24, 2025.
In viral clip, Trump, 79, criticized the Fed's chief project pricing: “It looks like, it's about $3.1 billion. It went up a little bit or a lot, so the $2.7 billion is now $3.1 billion."
Powell, who was just standing next to the president, shook his head in response: “I am not aware of that, have not heard that from anybody at the Federal Reserve office.”
The president immediately took out a document from pocket and passed it to the respondent.
Fed official looked at the paper and said: “You are including the third building Martin renovation which was built five years ago.”
The Chair and President joint tour was part of ongoing discussion to lower the interest rates which Powell did not accept to consider for a lesser than earlier proposed rate of 4.3%.
The American banker was nominated as Chair of the Federal Reserve by Trump during his previous presidential term in 2018, later ex-president Biden renominated him for next tenure.
In addition to that, Trump has threatened to fire Powell multiple times after taking over the presidency. Ex Under Secretary of the Treasury for Domestic Finance is expected to serve the current role till May 2026.
