US EditionJerome Powell questioned by lawmakers over $2.5B Federal Reserve headquarters renovation plans
- Jerome Powell, Federal Reserve Chairman, is accused of lying under oath about a $2.5 billion renovation that includes lavish features, according to planning documents from 2021.
- Senator Cynthia Lummis criticized Powell's testimony, labeling it as factually inaccurate and indicating he was unprepared to testify.
- The renovation costs have surged by 30% from the original $1.9 billion estimate, reflecting poor financial management within the Fed.
- Planning documents contradict Powell's claims, stating the project features amenities like private dining rooms and vegetated roof terraces.
8 Articles
8 Articles
‘Palace Of Versailles’: Fed Chair Lied About $2.5B HQ Renovation, Senators Say
Federal Reserve Chair Jerome Powell is facing accusations of lying under oath to Congress last week after denying the central bank’s $2.5 billion headquarters renovation would include lavish amenities like private dining rooms and special elevators, despite planning documents revealing precisely those features.Government planning documents reviewed by the Senate Banking Committee, first revealed by the New York Post, directly contradict Powell’s…
Powell accused of lying to Congress about Federal Reserve headquarter renovation
Powell testified in front of the Senate Banking Committee last Wednesday, about the luxurious renovation project which would allegedly include lavish amenities like private dining rooms, special elevators and vegetated roof terraces.
Jerome Powell accused of lying to Congress over lavish $2.5B Fed Headquarters renovation
Federal Reserve Chair Jerome Powell faces backlash for denying the Fed’s $2.5 billion HQ renovation includes luxury features, despite documents showing plans for private dining rooms and rooftop gardens. Lawmakers accuse him of misleading Congress and urge censure.
Fed Chair Jerome Powell Accused of Lying to Congress Over $2.5B ‘Palace of Versailles’ HQ Revamp
(NY Post)—Federal Reserve Chair Jerome Powell is being accused of lying to Congress after he denied that a $2.5 billion revamp of the central bank’s Washington headquarters will load the facility with lavish amenities — and some are demanding that he be punished, The Post has learned. Powell called The Post’s exclusive report in April about the bloated renovation project — which led Sen. Tim Scott (R-SC) to liken it to the “Palace of Versailles”…
Fed Chair Jerome Powell under fire for allegedly misleading Congress on $2.5 billion headquarters renovation
The controversy comes at a politically sensitive moment, with President Donald Trump also pressuring Powell to cut interest rates amid a turbulent economy.
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