White Home Deputy Chief of Workers James Blair discusses controversy over the Federal Reserve’s $2.5 billion renovations on ‘Kudlow.’
The makeover of the Federal Reserve’s Washington D.C. headquarters, the Marriner S. Eccles Constructing, has turn into a lightning rod for Chairman Jerome Powell already beneath fireplace from President Donald Trump, U.S. Treasury Secretary Scott and others for not slicing rates of interest.
A few of his critics have in contrast the over-budget mission to the Taj Mahal and the Palace of Versailles after prices ballooned from round $1.9 billion to $2.5 billion.
Workplace of Administration and Funds (OMB) Director Russell Vought just lately despatched a letter to Powell asking about latest testimony and the compliance of design components with plans submitted to the Nationwide Capital Planning Fee (NCPC). It is usually floated as a pretext to fireplace Powell for “trigger.”
Powell fired again with a written letter to OMB.
“The Board believes it’s of the utmost significance to supply transparency for our selections and to be accountable to the general public. Accordingly, now we have established a bit of our public web site to supply info on the mission’s historical past, objectives, engagement with state and federal entities, price drivers, and particular options of the mission. This info helps and additional elaborates on my testimony of June 25, 2025, earlier than the Senate Committee on Banking, Housing, and City Affairs” mentioned Powell within the first portion of the letter.
FOX Enterprise takes a have a look at the controversial mission in photos.
Controversial development on the Marriner S. Eccles Federal Reserve constructing in Washington, DC –> <!–>
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FOX Enterprise’ Eric Revell contributed to this report.
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