The Federal Reserve updated its frequently asked questions section in an apparent response to the Trump administration’s criticism of its multi-billion-dollar building renovation plan amid brewing tensions over interest rates.
The Federal Reserve is undertaking a major rehaul of facilities and structural work of the Marriner S. Eccles Building, with current cost estimates at around $2.5 billion, according to Office of Management and Budget (OMB) Director Russ Vought.
The OMB, which oversees federal budgetary expenses, has criticized the project. Vought called it an “ostentatious overhaul” in a July 10 post on social media platform X. A letter addressed to Federal Reserve Chair Jerome Powell was attached to the post….
Fed Responds to Criticism Over $2.5 Billion Renovation
