Federal Reserve rebuts Trump admin renovation attacks

As the Trump management increases his criticisms of Federal Reserve and President Jerome Powell, the Central Bank quietly a new new “Frequently Asked Questions” Page On the website defending the Central Bank’s $ 2.5 billion renovation project.

The latest updated page on Friday responds directly to some criticisms of the management about the attacked project this week. Management and Budget Office Director Russell Vought.

On Thursday, Vought claimed Powell’s “Fed managing the Fed to a great extent” and targeted what Fed’s renovations called “a flashy revision”.

Vought’s criticism of a letter published on X pointed to the rise of the ongoing campaign of the Trump administration against Powell. Trump has repeatedly claimed that the leader of the Central Bank did not reduce the interest rates, and he called Powell to resign.

Letter – and Vought’s promise to conduct an investigation on Friday’s renovation of the Fed – shows that the Trump administration began to remove Powell before it ends next year.

However, Powell has repeatedly resisted Trump’s criticisms and attempts to force Trump to reduce interest rates, the main stick point in his attacks.

The website, which defends the Fed’s renovation project, is the last sign that the central bank is preparing to fight against the latest attacks of the Trump administration.

“New VIP Dining Room is not built as part of the project” He says the FAQ page on the website.

“ECCLES has renewed and protected conference halls. They are also used for dining time meetings.”

This line seems to respond directly to Vought’s letter of renovation plans called “roof terrace gardens, VIP special dining rooms and elevators, water properties, premium marble and much more”.

The FAQs page summarizes the “main causes of cost increases throughout the project, an important attack line for Trump allies.

It is estimated that the cost of construction is approximately 700 million dollars compared to the budget.

On the page on the Federal Reserve website, various factors such as “conditions foreseen” such as “changes in the designs with review agencies” and “unpredictable conditions” have led to cost increases.

Taxpayers do not invoice for the cost of renewal. The FED is financed by itself through the securities held by the institution and the interest it has made with the collected banks.

On Friday, CNBC promised to continue the investigation of the renovations, saying, “We want to make sure that we have facts about Largesse and to what extent we are invaded.”

Vought’s Friday comments are the continuation of the X Post the day before: “While the Fed has been giving an deficit since 23, the FED is on the budget in the renewal of its headquarters.”

The page shows that it was last updated on July 11, but it is unclear when the page was added to the site.