WASHINGTON — Former President Donald Trump and Federal Reserve Chair Jerome Powell had a tense exchange during Trump’s rare visit to the central bank, clashing over interest rates and the $2.5 billion cost of the Fed’s Washington HQ renovation.

Trump, who has long criticized Powell for not cutting rates, wrongly claimed the cost was $3.1 billion. Powell corrected him, pointing out Trump included unrelated buildings in his estimate. The awkward public disagreement highlighted their strained relationship.

Trump also pushed Powell to lower rates, saying the economy would be stronger if borrowing costs weren’t so high. Though he later called the meeting “productive,” tensions were clear, especially as Trump faces renewed scrutiny over ties to the Epstein case.

While Trump has threatened to fire Powell, legal experts say he likely lacks the authority. The Fed remains independent, and Powell has maintained his stance on cautious economic policy despite Trump’s repeated attacks.