The Potomac, usually calm, now seems to hold another secret: the potential for a very expensive basement. Former President Donald Trump, never one to mince words, has turned his attention to the Federal Reserve’s ongoing renovation project, a $2.5 billion undertaking. His assessment? It’s akin to “building a basement in the Potomac River.”
The target of his ire is the Fed’s headquarters in Washington, D.C., a building that, according to Fox Business, is undergoing a major facelift. Trump didn’t hold back, labeling the project as wasteful and, in a move that’s become familiar, directed his criticism at Fed Chair Jerome Powell, whom he called a “clown.”
It’s a curious spectacle, this clash between a former president and the central bank. The Fed, an institution often shrouded in the language of economics and policy, suddenly thrust into the spotlight of political theater. What’s unfolding is more than just a critique of spending; it’s a commentary on priorities, on the allocation of resources in a complex world. The numbers themselves are staggering: $2.5 billion. One can only imagine what that amount could do elsewhere.
“They’re building a basement in the Potomac River,” Trump stated, according to the Fox Business report, a statement that cuts through the bureaucratic jargon and gets straight to the point. It’s a vivid image, one that resonates because it’s so unexpected.
The criticism, of course, isn’t new. Questions about the Fed’s spending have surfaced before, but the voice of a former president carries a certain weight. The timing is interesting, too. As the economy navigates uncertain waters, the optics of such a large expenditure are, at the very least, delicate. The Fed, meanwhile, continues its work, regardless of the criticism. The construction, the spending, the river flowing on.
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