Powell asks the central bank's inspector general to review the renovation of the Federal Reserve headquarters building
2025-07-14 15:49:46
Federal Reserve Chairperson Jerome Powell has asked the central bank's inspector general to review the costs involved in renovating the central bank's headquarters building as Trump administration officials step up criticism of how the central bank operates, according to CCTV news. The request was made to Michael Horowitz, the Fed's inspector general, over the weekend, according to a person familiar with the matter. The request follows a letter to Mr. Powell last week from White House Office of Management and Budget director Walter, who wrote that Mr. Trump was "extremely concerned" about cost overruns on the $2.50 billion project. In materials posted on its website, the Fed described the challenges of a comprehensive restoration of the Marina Eccles building and adjacent properties.
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