Trump Weighs in On Powell Probe, ‘He’s Billions of Dollars Over Budget’ [WATCH]

President Donald Trump labeled Federal Reserve Chairman Jerome Powell as “incompetent” or “crooked” in the latest escalation of his war with the head of the central bank.

Trump was asked about the criminal investigation of Powell outside the White House on Tuesday.

“He’s billions of dollars over budget, so he either is incompetent or he’s crooked,” the president told reporters while departing the White House en route to Detroit.

“I don’t know what he is — but certainly he doesn’t do a very good job.”

Powell is being probed over his sworn congressional testimony about the Federal Reserve’s Washington headquarters renovation — specifically, whether he made false statements or committed perjury when describing the project’s cost and features.

Watch the clip below:

President Trump on Jerome Powell: “He’s billions of dollars over budget, so he either is incompetent or he’s crooked.”pic.twitter.com/W62vc0OTSy

— Trump War Room (@TrumpWarRoom) January 13, 2026