Chef Hud Turner explodes Powell for Fed’s renovations in the middle of the housing crisis

The secretary of housing and urban development, Scott Turner, castigated the president of the federal reserve Jerome Powell for spending thousands of dollars by renovating the headquarters of the Fed in the middle of a housing crisis which, according to Powell, helped to perpetuate.

The headquarters of the Federal Reserve has undergone a major renovation which has been prey to cost -effects and now has a price of 2.5 billion dollars. Meanwhile, the Trump administration is lacking Powell for not having reduced interest rates, even with inflation apparently under control.

“It is rich that an unleashed bureaucrat like Powell is wasting billions of dollars of taxpayers on construction renovations while Americans find it difficult to buy houses due to high mortgage rates, which are directly affected by its refusal to reduce interest rates,” said Turner News Digital.

HUD became the first agency of the cabinet to announce a move from Washington, DC, with Turner reporting in June that the department moved to the National Science Foundation (NSF) already existing in Alexandrie Voisine, in Virginia. Turner said that this decision will release millions of taxpayers spent on the massive headquarters of HUD for a long time to the child Plaza de DC which also included “health risks, leaks and structural and maintenance failures” for employees.

“The move of Hud does not concern me-our workforce deserves to be in a safe building and which corresponds to our workforce. NSF has never been able to fully fill their building with the occupation and which goes in a building that best adapts to their work. Its ivory tower, thinks that it is above-and By putting the Americans first, “continued Turner.

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HUD secretary Turner criticized the president of the Fed Powell to “waste billions of dollars of taxpayers on buildings of buildings while Americans find it difficult to buy houses due to high mortgage rates”. (Getty Images)

Speculations have turned to that President Donald Trump could try to avoid the Fed chief before his mandate officially ending in May 2026 due to his reluctance to reduce the target rate of federal funds, which would reduce loan costs for Americans. The Fed in June maintained its reference interest rate between 4.25% to 4.5%, which, according to Trump, stifles American economic growth.

The Fed, which establishes monetary policies and supervises banks, said that interest rates decisions are rooted in its approach dependent data to manage inflation and economic growth. It acts independently, which means that it does not require the approval of the president or the congress during the promulgation of policies.

Trump has amplified his criticism of Powell in recent weeks, arguing that he should have already reduced interest rates, while calling it “Numbskull” with the nickname “M. Too late”. During the recent NATO summit in Canada, Trump said at a press conference that Powell is “terrible” and is a “very average mental person” who has a “weak IQ for what he does”.

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The president of the federal reserve, Jerome Powell, answers a question at a meeting of the Washington economic club in Washington, DC, on February 7, 2023. (Reuters / Amanda Andrade-Rhoades / File photo)

Trump said recent and over-budget renovations at the Fed headquarters, Marriner S. Eccles Building, “in a way” an “infraction drawn”.

“I think he’s terrible. I think he’s a stiff total. But the only thing I haven’t seen in him is a guy who needed a palace to live,” Trump told journalists last week.

“You talk to the guy. It’s like talking – nothing. It’s like talking to a chair. No personality, no high intelligence, nothing. But the only thing I would never have guessed is that he would spend $ 2.5 billion to build a little extension.”

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Democratic legislators have criticized Trump’s attacks on Powell on the Fed building updates, including the Senator of Massachusetts, Elizabeth Warren, blowing on Turner to move Hud to Virginia.

President Donald Trump arrives on the southern lawn of the White House of Camp David on June 9, 2025. (Tom Williams / CQ-Roll Call, inc)

“If Trump was serious about the drop in interest rates, he would brake his chaotic prices,” Warren said earlier this month during a speech to the Echiquier Club at DC “Instead, he threatens to dismiss the president of the federal reserve. When his first attempts to intimidate Powell failed, Trump and the Republicans in the Congress suddenly decided to examine how the Fed spends for construction renovations.”

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HUD is expected to save $ 22 million a year on operating and maintenance costs leaving the Robert C. Weaver building, while the government should obtain a heavy sum when the building is officially sold because of its privileged location in the national capital.

The agency’s new house in NSF should cost $ 35 per foot to the government compared to the $ 86 per square foot in the Weaver building, including operations and maintenance, Fox Digital learned.

The federal government had spent $ 90 million on repairs for the Weaver massive building in the past 15 years, has learned Fox Digital, but the building has “deteriorated well beyond the profitable compensation point, creating significant financial obligations for the federal government if the occupation is maintained,” Hud reported in June.

The Robert C. Weaver Federal Building in Washington, DC (Carol M. Highsmith / Buyenlange / Getty Images)

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Sunday morning, the federal reserve refused comments when asked Turner remarks to Fox Digital.

The FED website includes a frequently asked questions page concerning building renovations, in particular by stressing that the Fed Board of Directors “takes responsibility for being a good intendant of public resources” and is subject to a handful of guarantees to ensure transparency.

“The president of the federal reserve testifies to each chamber of the congress twice a year on monetary policy. During two sequential days of hearings, the members of the Chamber and the Senate have the possibility of questioning the president of the Fed on any subject, then to submit questions in writing after the hearings. As part of these hearings, the Federal Reserve publishes a report on monetary policy semi -in -law.

Trump, who appointed Powell in his first presidential mandate, continued to slam Powell on social networks for current interest rates which, according to him, “suffocate” the American housing market.

The secretary of housing and the candidate of urban development, Scott Turner, took an oath during his confirmation audience of the Senate on January 16, 2025. (Bill Clark / CQ-Roll Call, included via Getty Images)

“Too late”, and the Fed, suffocate the housing market with their high rate, which makes people difficult for people, especially young people, to buy a house, “wrote Trump on Truth Social Friday.” It is really one of my worst appointments. Sleepy Joe saw how bad it was and renamed it anyway. “”

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“The United States is Rockin ‘, there is very low inflation and we deserve to be 1%, which saves a dollar billion per year on the costs of interest. I cannot tell you how late – so bad for our country!”

Eric Revell and Amanda Macias of Fox News Digital contributed to this report.