Overview

• After touring the site, Trump endorsed continued work on the Fed’s $2.5 billion overhaul, calling the costs substantial but affordable for the country.
• He downplayed the idea of firing Jerome Powell over cost overruns, describing such a move as unnecessary.
• The president renewed his push for deeper interest-rate cuts, saying he “would love” to see lower rates before the Fed’s July meeting.
• Office of Management and Budget and Treasury leaders will maintain oversight of renovation spending and planning approvals.
• Financial markets have responded to the dispute, with the dollar sliding about 10 percent following earlier uncertainty over Powell’s future.