Takeaways from Trump's Federal Reserve tour

Are there things the chairman can say to you today that would make you back off some of the earlier criticism? Well, I'd love him to lower interest rates, but other than that-- other than that, what can I tell you? Can fairly describe that as the back slap heard around the financial world. Kelly O'Grady, CBS News MoneyWatch correspondent, is with me. So let's help the audience understand the visuals today. The president goes over there to look at this renovation project, the Federal Reserve, and I want to play for you and our audience this very awkward exchange between the Federal Reserve chairman and the president about how much that whole thing costs. Let's watch and listen.

It looks like it's about $3.1 billion. It went up a little bit or a lot. So the 2.7 is now 3.1. I'm not aware of that, Mr. President. Yeah, it just came out. You're including the Martin renovation. You just added--

That's our entire capital [INAUDIBLE]. Yeah, you just added in a third building is what that is. That's a third building. Well, I know, but it's a building that's being built. No, it was built five years ago. We finished Martin five years ago. It's part of the overall work. It's not new. There you go, Kelly, a real-estate developer and someone who knows his numbers, the Federal Reserve chairman, arguing about all this because this is a backdrop, from the White House perspective, to possibly fire Jay Powell. Yeah, that was one of the most awkward moments in recent financial history that I've ever watched. I kind of wish I had popcorn for some of it because you could really feel the tension between the two of them. Of course, Chair Powell can't comment on interest rates right now. It's a quiet period ahead of that meeting. But look, there were a lot of numbers thrown out. At the end of the day, the Federal Reserve, it's over budget, and it, of course, has been suggested that the president may use that as a cause for firing because he can't fire Chair Powell. He has to have cause legally. But I think really what I took away from is this was very tense, very awkward. And you did have this one moment where a reporter asked-- it was right after the clip that you played, and he said, well, Mr. President, you used to work in real estate. What would you do to someone if they were over budget? And he said, "I'd fire them." Now, everyone laughed, but it really does get at that point that this wasn't necessarily about a renovation and site visit. This was about interest rates and sort of this back and forth, all of the backdrop of that very tense visit that we just watched a bit of. And if anyone was hoping that visit would calm this whole scenario or the financial markets hovering over it, they were sorely mistaken. Kelly O'Grady, please stay with us. I'll be back to you in just a moment.