Trump then held up a document that allegedly outlined construction expenses but was informed that he had mistakenly included costs from the William McChesney Martin Jr Building project, which was not part of the current renovations.

Lately, Trump has somewhat eased his rhetoric about firing Powell. Though he labeled Powell a “numbskull” and criticized his performance earlier this week, Trump mentioned Powell would be gone in eight months, oddly setting a timeline extending past his own term, which ends in May 2026, raising questions about his rationale.

According to Jerome Powell, President Trump mistakenly included the expenses from a finished project when he claimed a budget overrun for the central bank’s headquarters renovation. Source: AAP, AP / Julia Demaree Nikhinson

And after the visit, Trump said he did not intend to fire Powell.

Trump has criticised Powell for months over his insistence on keeping the short-term interest rate at 4.3 per cent this year, after cutting it three times last year, when Biden was in office.