Trump Criticizes the Fed's Renovation Project Again, Calling for an Investigation of Powell
2026-10-01 04:03:32
According to CoinMeta, Trump stated in a post that a report by the Federal Reserve's Inspector General indicated "project management deficiencies" in the renovation project of the Federal Reserve headquarters in Washington, D.C. He criticized the project for significantly exceeding its budget, claiming that it had already cost hundreds of millions of dollars and that the final cost would likely reach at least $2.5 billion. Trump requested that Attorney General Todd Branche conduct a study of the case and decide on the subsequent course of action. Quoting the report, Trump noted that the Federal Reserve Board did not receive an estimate of the project costs from the construction management party until January 2026, more than three and a half years after the project began, and more than $2 billion in construction contracts had already been awarded at that time. As of July 2026, more than four years after the project started, the Federal Reserve still had not determined the maximum guaranteed price, which made it impossible to ascertain the final cost, nor had it transferred any related risks to the construction management party. He suggested that the final cost of the project could rise to $3.5 billion or even $4 billion, and criticized the fact that the architectural design and historical elements of the building might not be able to be restored after the renovation, stating, "They have destroyed the beauty and glorious history of this building." He once again called for then-Federal Reserve Chairman Jerome Powell to resign, and if Powell refused, he said the U.S. government should consider taking legal action to hold him accountable.
Source:Jin10 Data
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