Hardhats and bad math as Fed chief shows president’s complaint about $3.1bn cost has been jacked up with old spending. Key US politics stories from 24 July 2025

The US president and the central bank have clashed over a $2.5bn renovation and its ongoing refusal to cut interest rates

The president has lambasted the U.S. central bank chief repeatedly for not cutting interest rates more aggressively, musing publicly about firing him.