Source: US Neews & World Report
“Federal Reserve Chair Jerome Powell has asked the U.S. central bank’s inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run. The request to Fed Inspector General Michael Horowitz, first reported by Axios, was made over the weekend, according to a source familiar with the matter. It follows a letter to Powell last week from Office of Management and Budget Director Russell Vought, who wrote that President Donald Trump was ‘extremely troubled’ by cost overruns in the $2.5 billion project. In material posted to its website on Friday, the Fed described the challenges in a complete rehabilitation of the nearly 100-year-old Marriner S. Eccles building and a neighboring property on Constitution Avenue in the nation’s capital.” (07/14/25)