Fox News played video of a contentious moment between President Donald Trump and Federal Reserve Chair Jerome Powell, but omitted the end of the exchange, when Powell fact-checked the president.
Trump visited the Federal Reserve's Washington headquarters on Thursday, where renovation costs have exceeded budget. The president has been critical of the project's ballooning budget, suggesting Powell could be committing fraud. During a tour of the building, Trump confronted Powell while cameras rolled.
Watters airs a version of the Trump/Powell exchange from earlier today. The part where Powell says the building was built five years ago is omitted pic.twitter.com/MBxVOOkQF1
— Acyn (@Acyn) July 25, 2025
In the clip of the interaction, Trump presents Powell with an apparent budget sheet, claiming the cost of Fed renovations has ballooned from $2.7 billion to $3.1 billion. A baffled Powell examines the sheet.
"Oh, you're including the Martin renovation...That's a third building," he says.
"Yeah, it's a building that's being built," Trump retorts.
On Fox News, the clip ends there. The Fox News banner on the video reads: "Powell spends big, Trump brings receipts."
However, the unedited exchange, which Fox News streamed live earlier that same day, reveals that Powell pushed back, clarifying that Trump had included a separate building which was completed five years earlier, during Trump's first term.
Trump: It looks like it's about $3.1 billion
— Acyn (@Acyn) July 24, 2025
Powell: I'm not aware of that.
Trump: It just came out
Powell: You just added in a third building
Trump: It's a building that's being built
Powell: It was built five years ago. pic.twitter.com/aVZaZ9BD3T
"That's a third building. It was built five years ago," Powell says while reviewing the sheet. We finished Martin five years ago—it's not new."
That portion of the conversation was omitted from Fox's broadcast, prompting accusations of deliberate editing to protect the president from public embarrassment.
maga state media at its finest
— the canadian (@comedicanadian) July 25, 2025
Online, users who viewed both versions called out the omission, accusing Fox of bias and noting the recent $16 million settlement CBS paid to Trump after he sued the network for what he claimed was a deceptive edit of a Kamala Harris interview.
SUE THEM!
— Cindi Branham (@CindiBranham1) July 25, 2025
They edited the interview!
Trump accused CBS of editing a November 2024 60 Minutes interview with Harris to make her appear more articulate. Critics questioned the strength of the case, with many speculating that CBS-parent company Paramount capitulated to Trump in hopes of receiving the required federal approval to complete a high-stakes merger with Skydance Media.
"So is this the time to sue for $16,000,000?" a question read online. "What's the difference in CBS editing out a part from Kamala's interview and this?"
"Editing footage to make an incompetent person...look more credible...sounds like grounds for a lawsuit," an X user wrote pointedly.
Jerome Powell should sue using Trump's case against CBS as precedent
— Gregory Natoli (@NatoliFish) July 25, 2025
So far, neither Powell nor the Federal Reserve has commented publicly on the matter, and Fox News has not addressed the backlash.
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