Reported about 10 hours ago
Federal Reserve Chairman Jerome Powell defended the $2.5 billion renovation of the Fed's headquarters in a letter to White House budget director Russell Vought, asserting their commitment to responsible resource management. This response came after Vought expressed concerns over the project's costs and design features, suggesting they were extravagant. Powell clarified that the renovation is essential for safety and health, highlighted revisions to reduce costs, and refuted claims of luxury elements that the media reported, asserting compliance with National Capital Planning Commission approvals.
Source: YAHOO