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January 1, Trump’s Surprise Victory in Federal Reserve Renovation Dispute
Did you hear about what went down between President Trump and Fed Chair Jerome Powell? They had a bit of a spat about how much money is being spent on fixing up the Federal Reserve’s headquarters. And guess what? Trump was right!
Trump said the renovation costs shot up to $3.1 billion. That’s a big chunk of change! Powell tried to argue that wasn’t true. He said he hadn’t heard that from anyone at the Fed. But hold on, folks—Mark Paoletta from the Office of Management and Budget stepped in to clear the air and said Trump had the numbers spot-on.
According to Paoletta, the budget for part of the renovation was supposed to be $1.4 billion, but the costs went up over a billion! Now, the total for fixing everything is $3.1 billion. Trump visited the Fed to push Powell to wrap things up without spending more money and to hurry it along. That’s good old business sense!
There was talk of fancy stuff being added to the building, like VIP dining rooms and rooftop gardens, which Powell denied. But some serious questions about the project have come up, making folks wonder if everything’s being done by the book.
Powell’s term is up in a couple of years, and he hasn’t been on board with lowering interest rates, which doesn’t sit well with Trump. At one point, Trump was even thinking about firing Powell. And back in the day, Trump believed his instincts were better than the Fed’s decisions. What a mix-up this all is!
In the end, Trump’s team is on it, making sure no more money gets wasted and that we stick to the rules. Let’s see how this shakes out.
Wyatt Matters!
There’s been a big fuss about the renovations at the Federal Reserve’s headquarters. President Trump raised concerns about the costs ballooning to $3.1 billion. People might think that’s a lot of money, and it is! Federal Reserve Chair Jerome Powell tried to say that those numbers weren’t right, but it turns out Trump had the right information after all.
Somebody from the Office of Management and Budget, Mark Paoletta, backed Trump up by saying the renovation was originally budgeted at $1.4 billion, but surprise, those costs jumped way higher. Now everyone’s keeping an eye on what’s happening. It sounds like Trump’s got a good point about wanting things to finish up without more money being spent. Everyone agrees that being smart with money is important.
There were some strange stories about adding fancy features to the building, like VIP dining rooms and rooftop gardens, which Powell says aren’t true. Still, Trump is determined, making sure everything’s honest and sticking to the budget. Who knows what changes might happen next, but here’s hoping it all works out without wasting more money.
As our loyal readers, we encourage you to share your thoughts and opinions on this issue. Let your voice be heard and join the discussion below.
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John B Hand
July 26, 2025 at 6:34 am
Powell’s term is not up in a couple of years. Powell will be out in 10 months. His term ends in May.
Roger White
July 26, 2025 at 10:06 am
Our government should not be spending any of our taxpayer dollars on lavish government buildings. The Federal Reserve seems to think it is above accountability. It is time to restructure this monstrosity and concentrate on reducing the debt.
Joseph Gardner
July 26, 2025 at 7:15 am
Who cares about budget! It’s the Federal Reserve. They can print all the money they want and no one will ever audit them!
America’s number one counterfeiter
buster
July 26, 2025 at 8:05 am
thought the fedral reserve was gone
Brian E Johnson
July 26, 2025 at 8:06 am
Having something in the U.S. government is 1 thing, but their are ALWAYS cost over runs&this is just a fact of life!
Jim or Brenda Chipman
July 26, 2025 at 9:17 am
I guess the Fed has no oversight at all
They can do whatever they want to
Must be nice to have and endless supply on taxpayer and printed money.
Hub
July 26, 2025 at 9:20 am
His term is over in May of 2026. Why they let him spend billions of our money on renovations is beyond me. But it is not about the American people. Trump said he was going to lower rates to 10% to help the American people get out of debt bet that hasn’t happened. Let’s see what happens when Powell term ends!
David Greene
July 26, 2025 at 9:25 am
Isn’t there an office building in DC that could be leased for a fraction of that cost? Yes leased since the whole Fed Reserve could be dissolved.
Since it’s Federal it could be in any state. How about outside Huntsville between a Piggly Wiggly an nail salon. Or central PA near a hog farm.
El
July 26, 2025 at 10:47 am
Yes, there are much less expensive option, such as what you described, but then they wouldn’t be able to launder money to themselves in the form of kickbacks from the companies doing the work.
Rosandy
July 26, 2025 at 12:42 pm
Spot on. Follow the money, find out who was paid endless ‘consultation fees’, kickbacks from companies awarded contracts at inflated prices. Looks like Powell want to feather his nest before he leaves in May 2026.
Joshua Gottfrid
July 26, 2025 at 10:33 am
This article fails to mention the Martin building was completed four years ago. Also the added cost by architectural DC s commission required changes, higher water table thank engineers planed for and requirement to remove asbestos and upgrade to meet current building standards. Yes it is more than planned but most government projects are.
Joe
July 26, 2025 at 10:48 am
Agree. Not to mention you have oversight by an archectural commission (appointed by Trump) that requires use of certain materials to ensure the building’s original look. Almost all historical buildings have this extra cost issue. And orginal plan was done in 2017 prior to Covid and all the increased building costs that go along with this. The ariicle is a worthless propagandist piece. I read his bio and it says seasoned writer and scholar. So when you he didn’t take the time to look up how long Powell’s term is, I pretty much dismissed the whole thing.
El
July 26, 2025 at 10:45 am
To me, I see it as their same MO—money-laundering. Look at the contractors doing the work, because I’d bet The Fed is giving the jobs to their friends and companies that will give kickbacks. Our tax dollars pay for this. For the cost to be that high (more than a palace, like POTUS said), there is corruption there.
DOGE The Fed. Private company or not, U.S. citizens pay them!
Thom
July 26, 2025 at 11:53 am
There are very few agencies in the Fed Gov’t that consider themselves the most important part of the government. Therefore, every one of the agencies representing the U.S., needs to be monitored closely by the Executive Branch and that branch should report their findings to Congress for remedial action if needed! This is the only clear and concise way to reign in our out of control spending.
Nancy Shirley
July 26, 2025 at 12:31 pm
The audacity of the people running the Federal Reserve spending BILLIONS of dollars on a building to work in!! That money should be going to those who lost their homes in Maui, Palisades and South Carolina. Also,seniors who live under the poverty level that struggle on social security. I am a Trumpster but if our President doesn’t change that scenario, he may lose votes.
Meli
July 26, 2025 at 1:15 pm
True. This is about perpetuating elitist liberals exclusive club and lifestyles
Jerry Todd
July 26, 2025 at 1:03 pm
Repeal the 16th Amendment