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Trump aides to visit Federal Reserve Thursday amid renovation scrutiny
WASHINGTON, D.C., JUL 22 – Trump administration officials and senators plan to inspect the $2.5 billion Federal Reserve renovation amid concerns over cost overruns and project management, officials said.
- On Thursday, James Blair, White House deputy chief of personnel, will inspect the Federal Reserve’s head office remodeling project.
- Amid the $2.5 billion renovation cost, President Donald Trump blamed Jerome Powell for rising expenses, and Russell Vought sent a letter last week alleging gross mismanagement.
- In defense of the project, Powell requested the Fed’s inspector general to review the renovations, citing extensive safety updates, Powell said both buildings required considerable repairs, and he asked for an official review.
- Others had expressed interest, including a number of US senators, with Senate Banking Chair Tim Scott expected to attend and some Republicans arguing the renovations wouldn’t justify ousting Powell.
- Bipartisan fears about market impact loom if Powell were removed, as President Donald Trump said he is leaning away from firing Powell, whose term expires next year.
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Here's how the Fed's Renovation budget ballooned to $2.5 billion
The Federal Reserve’s renovation project is bogged down largely by invisible labor, preservation, raw material, and environmental costs, all of which have added to the ire directed towards Fed Chair Jerome Powell. The Federal Reserve’s long-planned renovation of its Washington, D.C. headquarters has turned into a $2.5 billion political flashpoint. Initially estimated at $1.9 billion in 2021, the cost of overhauling the Fed’s historic Marriner S…
Top Trump official slated to inspect Fed's $2.5B renovation amid cost scrutiny
White House deputy chief of staff James Blair will visit the Federal Reserve's headquarters Thursday to inspect the central bank's renovation project.The revelation, announced in a post on X, comes as President Donald Trump places the blame squarely on Federal Reserve Chairman Jerome Powell for the rising renovation costs.PHOTOS: THE FED’S $2.5B RENOVATION IRKING PRESIDENT TRUMP AND TEAMThe project to update the Fed's two main Washington, D.C., …
At least three Trump advisers set to visit Fed on Thursday
The ScoopWhite House deputy chief of staff James Blair, budget director Russell Vought, and Federal Housing Finance Agency Director Bill Pulte will be among those visiting the Federal Reserve on Thursday, Blair told Semafor.The visit, scheduled for 4pm, is part of the White House’s effort to ramp up scrutiny of the Fed’s $2.5 billion renovation, which President Donald Trump has zeroed in on as a possible pretext for ousting Chair Jerome Powell.“…
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