Fed Fights Back Against Trump's Renovation Attack | JQJO

The Trump administration, escalating its attacks on Federal Reserve Chairman Jerome Powell, criticized the Fed's $2.5 billion headquarters renovation as "ostentatious." Budget Director Russell Vought accused Powell of mismanagement and hinted at an investigation. The Fed responded with a new FAQ page on its website, refuting claims of lavish features like VIP dining rooms and explaining cost overruns due to design changes and unforeseen conditions. The Fed emphasizes that the project is self-funded, not taxpayer-funded.