Powell Defends Fed Spending Amid Senate Scrutiny
TL;DR
Federal Reserve Chair Jerome Powell defended the nearly $2.4 billion renovations of the Fed's historic headquarters, stating they were necessary for safety and modernization, despite criticism over cost overruns and luxury upgrades, with some lawmakers comparing the spending to palace-like extravagance.
- Fed Chair Jerome Powell grilled over ‘lavish’ HQ renovations: ‘Belong in the Palace of Versailles’ New York Post
- Scott Calls for Transparency, Accountability, and Regulatory Sanity at Federal Reserve Senate Committee on Banking, Housing, and Urban Affairs (.gov)
- Jay Powell’s awkward Senate stint Punchbowl News
- Powell Says Reports of $2.5B HQ Upgrade Are Inflammatory Barron's
- Powell to be pressed on Fed spending, agency’s politicization Fox Business
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