(24 Jul 2025)
RESTRICTION SUMMARY:
POOL
Washington, DC – 24 July 2025
1. President Donald Trump walks down construction stairs at the Federal Reserve building
2. SOUNDBITE (English) Donald Trump, U.S. President:
"Well, thank you very much everybody and it feels very good actually to be back on a construction site."
3. SOUNDBITE (English) Donald Trump, U.S. President:
"(Reporter question: Did you see mismanagement going on?)
Well, I see a very luxurious situation taking place. Let’s put it that way."
++WHITE FLASH++
4. SOUNDBITE (English) Donald Trump, U.S. President:
"When you open up a basement, first of all, it’s the worst space. Always a basement is the worst place in a building. And it’s also the most expensive space to build. And especially here, because you have a water line. You know, they’re going down into the water, so they have to build a reverse — what’s called a reverse bathtub. The water has to be kept out. It’s very expensive construction, so it would have been good if they didn’t build it. It would have be good if didn’t do certain other things."
++WHITE FLASH++
5. SOUNDBITE (English) Donald Trump, U.S. President:
"Look, look, there’s always Monday morning quarterbacks. I don’t want to be that. I want to help them get it finished. It’s been going on for years, and I want help them to get it finished. And what we really want to do, and I think I can speak for Tim (Sen. Tim Scott, R-SC), and I can think I speak for the entire Senate. We can speak everybody, frankly, is we want to see interest rates come down."
6. UPSOUND (English) Reporter question:
"Mr. President, if the rates are hurting families in the country, why let that keep going for another eight months? Why not just fire the chairman now?"
7. SOUNDBITE (English) Donald Trump, U.S. President:
"Because to do that is a big move, and I just don’t think it’s necessary. And I believe that he’s going to do the right thing. I believe that the chairman is going to the right thing. I mean it may be a little too late, as the expression goes, but I believe he’s going to do the right thing."
++WHITE FLASH++
8. SOUNDBITE (English) Donald Trump, U.S. President:
"Everybody knows what the right things is. Even people that believed in, you know, the higher rates, they’re all on board. They all want to see the interest rates come down. It’s very important."
STORYLINE:
President Donald Trump visited the Federal Reserve headquarters in Washington Thursday, a week after indicating that Fed chair Jerome Powell’s handling of an extensive renovation project on two Fed buildings could be grounds for firing.
Trump and his allies say the $2.5 billion renovation reflects an institution run amok. The Fed allowed reporters to tour the building before the visit by Trump, who, in his real estate career, has bragged about his lavish spending on architectural accoutrements that gave a Versailles-like golden flair to his buildings.
Trump has criticized and threatened to fire Powell for months because the chair has kept the short-term interest rate the Fed controls at 4.3% this year after cutting it three times last year.
When Trump spoke with reporters following this tour, he remained critical of the renovations, calling them "very luxurious," but saying he didn’t want to play Monday morning quarterback.
"Look, there’s always Monday morning quarterbacks. I don’t want to be that. I want to help them get it finished," Trump said.
Trump also said there was "no tension" in his meeting with Powell and said he didn’t feel it is "necessary" to fire the fed chief, as he has threatened.
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