The US Federal Reserve pushes back against White House claims of extravagant renovations, releasing a video highlighting the modernization of buildings last updated in the 1930s. Despite apprehension about public communication, the Fed addresses accusations regarding mismanagement and unnecessary expenses, reporting construction costs have risen from an estimated $1.9 billion to $2.5 billion. The renovation involves crucial safety updates, such as asbestos removal, contrary to claims about luxury additions. Ongoing tensions arise as Trump pushes for lower interest rates, threatening the Fed's leadership amid disputes over economic policies.
The Federal Reserve is countering claims from the White House regarding extravagant renovations with a video that details a major overhaul and modernization of two old buildings.
Renovations, first approved in 2017, now estimated at $2.5 billion, focus on safety updates and modern technology integration, disputing allegations of unnecessary luxury features.
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