During a visit to the renovation works of the Federal Reserve headquarters, President Trump took the opportunity to address budgetary issues with Fed Chairman Jerome Powell. The project, which exceeded the budget by nearly 600 million dollars, became a pretext for a broader discussion on monetary policy.

Trump, in an apparently cordial tone, stated that "there is no conflict" and that "the relationship is good." However, his subsequent words carried a more assertive message. Commenting on the budget blowout, he joked: "If this happened in my company, with a project exceeding the budget by that much? It would be immediate termination!" This statement, although made with a smile, sounded like a veiled warning.

Trump's true intention, however, went beyond concern about the costs of the reform. Taking advantage of the press's presence, he directly questioned Powell: "Besides asking him to lower the rates, what else can I say?" This rhetorical question highlighted the real objective of the visit: to push for a more flexible monetary policy.

Trump's approach blended cordiality with firmness. While patting Powell on the arm, assuring that "we're doing well," he simultaneously applied private sector criteria to the management of the central bank. This hybrid tactic clearly aimed to exert pressure on the Fed, challenging the notion of the institution's independence.

Although Trump did not directly criticize the renewal project nor threatened to dismiss Powell because of it, his entourage included voices advocating for the replacement of the Fed chairman. This combination of actions created an atmosphere of underlying tension, turning the 2.5 billion dollar reform into a new pressure tool.

In the end, the real cost of the renewal appears to be secondary to Trump. Its main objective is to "save" (através of more baixas) interest rates to stimulate the economy. This "inspection visit" appears to be a veiled challenge to the Federal Reserve's autonomy, using the reform bill as a pretext for a broader economic agenda.