Representative Eric Swalwell (D-CA) was publicly criticized by White House Communications Director Steven Cheung on Thursday following an attempt by the congressman to mock President Donald Trump and defend Federal Reserve Chairman Jerome Powell.
The exchange came after President Trump visited the Federal Reserve headquarters in Washington, D.C., to review construction progress on an extensive renovation project.
The renovation, initially budgeted at $1.9 billion, has since increased in cost to $2.5 billion, with the total cost expected to reach at least $3.1 billion, according to Federal Reserve documentation.
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During his visit, President Trump confronted Chairman Powell about the ballooning costs, pointing out discrepancies and bringing documentation to support his claims.
Powell responded by denying that the total cost would reach $3.1 billion, but acknowledged that the project has a reserve fund that may be used for additional overruns.
“We’re ready for them,” Powell said.
“We have a little bit of a reserve that we may use.”
🚨 BREAKING: President Trump is OPENLY GRILLING Jerome Powell to his face at the Federal Reserve Building in DC
This comes after Trump found out the total for the renovations are actually $3.1 BILLION
“What are all these overruns about?!”
Holy CRAP this is an amazing watch 🤣 pic.twitter.com/Dh4ltIXF6p
— Nick Sortor (@nicksortor) July 24, 2025
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The moment drew national attention after Powell appeared caught off guard by President Trump’s remarks.
Powell also stated that he does not anticipate further increases, but did not rule them out.
In response to the encounter, Rep. Swalwell posted a photo of Powell looking confused, captioned, “When my wife tells me we’re actually saving money with Rent the Runway.” Rent the Runway is an online subscription service for designer clothing.
When my wife tells me we’re actually saving money with Rent the Runway. pic.twitter.com/7IK6bdIbjD
— Rep. Eric Swalwell (@RepSwalwell) July 25, 2025
The post was intended to mock Trump and suggest that Powell had been baffled by the president’s claims about the renovation costs.
Steven Cheung, who serves as White House Communications Director, responded directly to Swalwell’s post with a reference to the congressman’s past controversies, including his ties to Chinese national Christine Fang, also known as “Fang Fang.”
Fang was linked to Chinese intelligence and reportedly developed relationships with several U.S. politicians, including Swalwell, during her time in the United States.
“When you look at a print out of your text exchange with Fang Fang,” Cheung wrote in a quote tweet, referencing the viral image Swalwell had posted.
When you look at a print out of your text exchange with Fang Fang. https://t.co/hXvxJKhIph
— Steven Cheung (@StevenCheung47) July 25, 2025
The response drew immediate attention across social media platforms, with users recalling prior reports that Swalwell had been targeted by a Chinese intelligence operation.
Swalwell has denied wrongdoing and has not been charged with any criminal activity related to the matter.
The ongoing criticism of Powell’s renovation project comes amid broader concerns about government spending and accountability.
The Federal Reserve headquarters, located on Constitution Avenue in Washington, is undergoing a full-scale modernization effort that includes structural upgrades and the renovation of a nearby secondary building.
The project, which began under Powell’s leadership, has seen costs escalate by more than $1 billion over initial estimates.
Federal Reserve officials maintain that the upgrades are necessary to meet modern safety and operational standards.
Swalwell has not responded to Cheung’s remarks or issued any additional statements regarding the renovation costs or his post.
The Trump administration has continued to scrutinize federal agencies and public spending, particularly in areas where costs have escalated significantly without clear justification.
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