Jerome Powell sends point-by-point response to White House about Fed office renovations
Briefly

Jerome Powell addressed concerns regarding the Federal Reserve's renovations in response to Russ Vought's criticisms. He rejected claims of extravagance and reaffirmed compliance with historic preservation and accessibility standards. Vought, representing President Trump, expressed distress over the management of the Federal Reserve, focusing on the renovation's perceived opulence. Powell fielded multiple questions about the project, reiterating its necessity due to the lack of major renovations since the original construction in the 1930s for the two historic buildings on the National Mall. The Federal Reserve operates independently regarding decisions and budgets for its facilities.
Powell highlighted that the project is extensive due to the renovation of two historic buildings on the National Mall, originally constructed in the 1930s. A comprehensive renovation has not been conducted since then, despite periodic upkeep to ensure long-term occupancy.
The Federal Reserve maintains its autonomy in making decisions related to its own budget and office buildings, which includes the renovation project. Powell's response provides a detailed account of how the renovation aligns with historic preservation and accessibility standards.
Read at Fortune
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