Trump has used the renovation project as both a literal and symbolic example of what he has often described as government waste. Speaking to reporters last week, Trump called the construction effort “a disgrace,” and accused Fed officials of overspending at a time when inflation remains high and interest rates are biting into household budgets.

The Trump administration says the president's visit to the Federal Reserve was to check the "progress" of a renovation -- and separate from his frustration that Powell won’t lower interest rates.