In a hilarious exchange on X, Rep. Eric Swalwell (D-CA) got absolutely demolished by White House Communications Director Steven Cheung after he tried to attack President Trump and defend Federal Reserve Chairman Jerome Powell.
President Trump visited the Federal Reserve headquarters in Washington, DC, on Thursday to examine the new construction on Powell’s insanely expensive renovation.
Powell is under fire for the cost of renovating the Fed’s headquarters. The cost ballooned from $1.9 billion to $2.5 billion, even higher when you take into account the third building that they’ve already renovated as part of the project. According to official Federal Reserve documents, the project will cost upwards of $3.1 billion.
The Gateway Pundit reported on a fiery exchange between Trump and Powell, where the Fed Chairman tried to argue with Trump about the building renovation costs in front of the cameras.
When Powell tried to deny the $3.1 billion figure, Trump pulled out the receipts, and Powell tried to say he was wrong.
Powell further said he does not expect additional cost overruns, but “we’re ready for them,” and “we have a little bit of a reserve that we may use.”
WATCH: Fed Chair Jerome Powell Tries to Argue with Trump when Confronted on Cost of Federal Reserve Headquarters Renovation
Swalwell tried to own Trump with the viral image of a befuddled Jerome Powell looking at the document, commenting, “When my wife tells me we’re actually saving money with Rent the Runway.”
Rent the Runway is an e-commerce platform that allows users to subscribe to periodic clothing deliveries. The implication is that Trump was wrong and Powell was confused by his calculation.
Cheung fired back with a savage response, correcting the caption by pointing out Swalwell’s history of sleeping with a Chinese spies.
“When you look at a print out of your text exchange with Fang Fang,” he said.
When you look at a print out of your text exchange with Fang Fang. https://t.co/hXvxJKhIph
— Steven Cheung (@StevenCheung47) July 25, 2025
It can be recalled that Swalwell, a former House Intelligence Committee Democrat, had a sexual relationship with Fang Fang Fang, AKA Christine Fang, a Chinese spy and honey pot, who previously infiltrated his campaign headquarters. Swalwell cut ties with Fang in 2015 after a defensive briefing.
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