There was also asbestos, and toxic contamination in the soil. All of that, combined with rising costs of materials following pandemic shortages and inflation, pushed up the cost of the renovations. A project with an estimated budget of $1.

President Trump and Federal Reserve Chair Jerome Powell bicker face to face over the cost of the Fed’s renovations as the president visits the construction site.

President Donald Trump is scheduled to visit the Federal Reserve in person Thursday — an unusual move that’s also a major escalation in the White House’s pressure campaign against Chair Jerome Powell.