Jerome Powell defends $2.5B Federal Reserve renovation: ‘Good stewards of public resources’

Fuente: New York Post

WASHINGTON — Federal Reserve chairman Jerome Powell defended his $2. 5 billion headquarters renovation project near the National Mall Thursday — insisting that “we take seriously the responsibility to be good stewards of public resources. ” “We have taken great care to ensure the project is carefully overseen since it was first approved by the Board in 2017,” Powell claimed in a letter to White House director of management and budget Russ Vought, even though the project is already about $600 million over budget Powell has faced a firestorm of Republican criticism over the lavish renovation — as President Trump demands that Powell consider resigning after refusing to lower interest rates.