Oh my goodness! 🤯 How does the renovation of an office go from costing a few dollars to a mega millions and now it's the excuse for a legal fight?
Hold onto your hats because this is heating up! 🔥 Former President Donald Trump, in his role as president, is at odds with the head of the Federal Reserve, Jerome Powell. It turns out that the renovation of the Fed's headquarters, which was supposed to be a $50 million job, skyrocketed to about $3 billion, just as you heard! 💸 And Trump, not one to hold back, is gearing up for a "big lawsuit" against Powell.
But here comes the spicy part: this is not just a tantrum over money. 🕵️♂️ Trump used this threat of a lawsuit as a direct hit to force Powell to lower interest rates NOW. According to Trump, the money wasted on that project is a clear example of how "incompetent" Powell is. He called it "too late" and even backtracked with his own former Treasury Secretary, Steve Mnuchin, for recommending Powell for the position. Look at where we've come to! 🤦♂️
The Federal Reserve, for its part, defends itself by saying that the cost skyrocketed because the headquarters is a historic building and there were construction issues. But for Trump, all of this is a power play to bring interest rates down and supposedly "save" the country from a bigger debt. 📉
Meanwhile, in the background, the Trump administration is already moving its pieces and putting together a list of possible replacements for Powell. This is not just an ego fight; it's a struggle for control of the country's money! 💰 Whoever sits in that chair will have to juggle Trump's political demands and the need to keep the global economy afloat. Do you think politics will be set aside? Oh no! This is just the beginning. 💥
Will the next head of the Federal Reserve have to be more of a politician than an economist? Stay tuned, things are getting interesting!$TRUMP $BTC $SOL
