Office and Management of Budget Director Russ Vought discusses the ongoing concerns with FED Chairman Jerome Powell and the FED’s ridiculous cost overruns for their offices in Washington, DC. In addition, at the 6:00 mark of the video below, Vought discusses the first $9 billion rescission package that has passed the Senate, along with more rescission cuts that are likely to be submitted to congress.
Gotta give Director Vought a lot of credit for holding the fire to federal government spending. This is a new tone for the DC spending guards, and they are certainly on notice the Trump administration is watching. WATCH:
.
Russ Vought has been one of my favorites for a long time. Credit to his early appearances on the Bannon show.
I love and respect Russ!
MAGA 👊👊🇺🇸🇺🇸❤️❤️🙏🏻🙏🏻
He doesn’t pull any punches. That is what is needed!!!
How about that! Washington D.C. getting told to stop blowing tax payer’s money. Good job!
Be careful what you wish for.
They are going to make sure that Powell is removed. It’s so much easier to blame the Fed.
No worries. Voters are keeping receipts.
👎🤡
His term is up in less than a year. Why would they bother?
“and the FED’s ridiculous cost overruns for their offices in Washington, DC.”
I find it laughable that as soon as someone started asking questions about the cost, Powell immediately turned it over to the Fed IG to review.
And to CYA.
Why would that have not been done long ago when overseeing the cost was obviously failing?
They don’t care — they’re using our money. That’s what happens when you expect someone else to pick up the tab!
Lutnick/Vought 2028 !!!
Murkowski/Collins NEVER!!!
“….approaching the cost to renovate the Palace of Versailles..’
That cost and scope of work is absolutely absurd and indefensible. The Fed is a disgrace to America.
You mean to tell me that the gang mentioned above got their hooks into Captain Edward Smith and convinced/coerced him into deliberately sinking the Titanic? Totally absurd. 🙄
It’s a lead story……
Who/why/how was the Federal Reserve
created?
Who controls the Fed Reserve?
Jekyl Island…..
Why do so many say-End the Fed?
🙄 🙄 🙄
The Creature From Jekyll Island (by G. Edward Griffin) – YouTube
The creature is….The Federal Reserve.
Jekyl Island!!
👏 👏 👍
🎯 💯
The fact that Chuck Schumer is now publicly calling for Russ Vought to be fired is a massive sign that Russ is doing a great job & working hard for the American people!
Schmuck Schumer is the worst of the worst! Droopy eyed…(insert word (s) here).
He needs to go back to NYC and fix that screwed-up city instead of screwing around with people who actually want good things for the country and the people as a whole.
🎯🎯
All,
You can hate on the Fed all you want but understand this, the narrative about President Trump firing the Chairman sent the markets into a tailspin panic reaction yesterday. If President Trump were to Fire the chairman, the Bond markets will sell off and yields will rise, so be careful what you wish for. If the bonds fall that means the Federal Reserve will have to stimulate the economy, QE – quantitative easing! Whose else will buy our debt then? Confidence is key to everything and without that, politicians resort to sugar to sell their medicine.
Our politicians with the help of the MSN, want you focused on tariffs so you don’t focus on – War, taxation & Spending, something the Federal Reserve has no control over!
Stop blaming Powell and read below what all committee members agreed to.
FOMC minutes released July 9, 2025 regarding the June meeting
“In support of its goals, the Committee agreed to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. Members agreed that in considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee would carefully assess incoming data, the evolving outlook, and the balance of risks. All members agreed that the postmeeting statement should affirm their strong commitment both to supporting maximum employment and to returning inflation to the Committee’s 2 percent objective.” … “Voting for this action: Jerome H. Powell, John C. Williams, Michael S. Barr, Michelle W. Bowman, Susan M. Collins, Lisa D. Cook, Austan D. Goolsbee, Philip N. Jefferson, Neel Kashkari, Adriana D. Kugler, Alberto G. Musalem, and Christopher J. Waller.”
That’s 12 members right there, but it’s better we blame Powell, because, you know!
Congress does not allocate a budget for the Federal Reserve, never has, never will. Plus, 90% of the Feds net income goes into the Treasury Department. Your tax dollars are NOT paying for this renovation!! But I’m sure your politicians, media too, will find away to get rid of Powell. Huge mistake folks. FDR (Socialist) already destroyed the independent Fed back in the 1930’s, and now most people are encouraging something they have no idea what is going to happen. You think your politicians are bad now? Just wait.
The BRICS nation is happening whether we like it or not and President Trump better pivot towards that, otherwise, we are F’ed!! For well over a decade, I’ve been studying this multipolar world coming but nobody cared to listen, you listening now? China is #2 in consumerism and they will be the next financial capital of the world. China, like em’ or not, mastered how our country became who we are. Threatening countries who join the BRICS nation is not going to change their minds.
We are still King Dollar and that’s why BRICS was formed because countries are tired of the Dollar being used as a weapon. They have the Shanghai-based NDB, the (BRICS bank)which is to become the main investor in technologies & infrastructure projects to the member countries. They have the (Cross-Border payment initiative) Dubbed the BCBPI, welcoming “the use of local currencies in international trade.” The integration of digital currencies that will be their version of SWIFT.
There is so much happening that our politicians are scared to death to even talk about this.
We tend to upset countries when we remove them from SWIFT, confiscate their Reserves along with their gold and wonder why BRICS is happening at such breakneck speed?
The King Dollar is not going anywhere just yet, but the younger generation will live through the BRICS nation. ‘Times they are a-changin’
President Trump is stuck between corrupt politicians and a hard neocon, and they’d much prefer we hang PDJT or Powell rather than themselves.
Here’s my response: https://www.thegatewaypundit.com/2025/07/jerome-powell-may-be-criminally-referred-alleged-perjury/
Who cares what that rag site has to say. These so called journalists parrot most every thing. This site, that Sundance has created, is probably the only site that actually informs people.
Either way, I’ll make money in the market, up or down. But again, a narrative is being pushed on everyone. So blame the FED, I really don’t care.
Ahhh, the old undergrad Finance degree conundrum. It’s timeless, but also complete bullish&1t. Friedman had it right. All else is political garbage.
exactly on the qe
and the easing will be rocket fuel for crypto and real estate
so there’s a silver lining for folks invested in those markets
My concern is this “Genius Act” which seems innocent from what I read in the actual bill itself, it’s bitcoin. When the government gets their Stablecoin, what’s going to happen to bitcoins or any other crypto currency. No government will ever allow another currency to control theirs.
the only commonality between bitcoin and stable coins, Vote, is their utilization of blockchain technology
the genius act solely addresses stablecoins which are crypto coins generally pegged to as stable an asset as possible such as the us dollar or treasures
bitcoin is not a currently much the same as a share of apple stock is not a currency, both the share of apple and a share of bitcoin are considered assets
your point of stablecoins threatening governments is certainly valid and probably the biggest reason cryptos have been demonized and their growth potential intentionally stunted by various governments (like the usa) since blockchain technology is DECENTRALIZED and UNCENSORABLE
the decentralized nature of blockchains means the government has been taken outta the loop, which severely limits their control
the u.s. government has finally capitulated as they are now fully aware the horses have left the barn and there is NO possibility of stopping blockchain technology from revolutionizing virtually every aspect of all lives WORLDWIDE
exciting, more efficient and positive life enhancing times for all are here very soon all thanks to the decentralized and uncenssorable qualities that blockchain technology offers
long story short
bitcoin and the u.s. dollar and stablecoins all have the commonality of being exchangeable, but are not interchangeable
hope some of this helped, Vote
Doesn’t mean Jerome needs a Palace in DC for the future if BRICS is going to replace the dollar.
We should all be very afraid.
JMO.
Hmm, could be.
But, just a suggestion, elect your tasseographer with care …… many are frauds.
When the MAGA / America First tectonic plates are finished being shuffled under DC, brick walls crumble around the world and the china sets within are shattered to smithereens, never to be put back together again.
No brag, just fact.
Yawn….
I get what you’re saying but sometimes people have to piss or get off the pot.
Powell is dead weight right now and he’s clearly a political hack.
You’re correct, things are changing.
Instead Powell not changing.
Instead he’s pretending to be some fiscal hawk while spending 2.5 billion dollars in renovation and now it looks like he’s gonna try and blame someone else.
Fat chance.
You wrote all tha5t smear, and no one read it.
I did. Not every post is insincere.
The points regarding some past US actions and Swift are good.
This “Your tax dollars are NOT paying for this renovation!!” is incorrect as every excess dollar is suppose to be refunded to the treasuury.
President Trump has 5 to 8 trillion dollars of committed investments into the US, and this, along with very much needed cuts, is the means to a balanced budget and a stronger dollar.
At the same time Trump is trying to save NATO and leverage them to insert sanity into their inane polcies ( energy and immigration and Russia, Russia Russia, and rulw tge world globalism)
There is a real risk that the globalists will suicide rather then follow President Trumps lead, and even help expedite the move from the dollar.
This will lead to global depression where all nations suffer, the US less then most.
I do agree that President Trump may be over agressive in some Tarriff retoric and would, IMV, be better off sticking to clearly defined recipricol tarrifs. The democratic efforts to prolong and delay any deals are deeply harmful.
The key to avoiding WWIII is the US, and Russia and India cooperating on all levels.
End the Fed
Part of the Swamp….creature of the Swamp
always has been.
The Creature From Jekyll Island (by G. Edward Griffin) – YouTube
The Fed’s “response”…
https://www.federalreserve.gov/foia/files/vought-letter-20250717.pdf
So small design changes resulted in $700 million added cost???? WTF???
Who is the bulding contractor? Jerome’s brother maybe?
But isn’t that what some contractors thrive on? Submitting a competitive bid to win the contract knowing/hoping that ‘Change Orders’ will occur and that is where they can make some profit!
Project scope video:
https://www.ncpc.gov/videos/586/
Ave. cost/SF= $1923/SF
https://www.reuters.com/world/us/white-house-slams-powell-over-fed-finances-project-cost-overruns-2025-07-10/
Crazy. And that the average cost.
BREAKING: Jerome Powell Criminally Referred For Alleged Perjury About $2.5 Billion Building Renovation
From Gateway Pundit, see here:
https://www.thegatewaypundit.com/2025/07/jerome-powell-may-be-criminally-referred-alleged-perjury/
Exactly what I voted for. 🇺🇸
Reminds me of the Hunger Games capitol. I bet they have automated AI machine guns and booby traps, too.
It took a tie-breaking vote by VP Vance just to get $9 billion in waste cuts through. I wouldn’t exactly call that putting people on notice. Sorry.
But it happened. Notice or not. No lame “it’s not enough so we won’t cut anything” excuses.
Senator Tuberville made the same point. He was shaking his head that a piddling $9 billion was so hard, so painful for people. Too many RINOs still roaming the DC Serengeti. Shows we can’t afford to lose MAGA votes through unforced errors like yesterday.
it’s akin to slashing 25 cents from a $100 dollar bill
all things considered, it’s pathetic
It’s not necessarily about the amount of money, but about the subversive influence that’s being eliminated.
Same with firing bureaucrats.
There have been many other cuts, and some of these are dollar for dollar, massive, as they stop the funding to the inane globalist agenda.
We are headed towards below a trilliion a year ( very real cuts compared to Biden achievung a trillion a month deficits. )
Fatalism is a fatal disease.
First successful recission in 25 years.
Hilarious. The comments and posts by some.
First, some of ya’ll be like “Cut spending!!! No one ever cuts spending! See, they oppose it!!! See SEE SEE!!!!! They do not ever cut spending, all of them filthy dirty rats!!”
Recission bill passed, spending is cut. It was hard because politicians want their kick backs, especially now that USAID is cutoff.
Now the same posters are like “This is worthless. It was hard. Pennies, meh, Not good enough. What a joke.”
Just pick one an stick with it, FFS.
Only thing missing from this comment section is someone referring to Epstein and Trump is now ruined….but I haven’t gone through the whole thing yet.
The Senate voted for the cuts,
without a VP vote.
https://thehill.com/homenews/senate/5405515-senate-trump-cuts-global-aid-public-broadcasting-rescissions/
It passed 51-48 at 2 am Thurs. July 17th
Senate Appropriations Committee Chair Susan Collins (R-Maine) and Sen. Lisa Murkowski (R-Alaska), the chair of the Interior Appropriations subcommittees, opposed the package.
The House needs to look at it again, in the next day or 2, since there was a change from the House passed version, to the Senate passed version.
Please don’t patronize me. A pivotal procedural vote to clear it for a floor vote was 50-50 with Vance casting the tiebreaker. (Collins, Murkowski and McConnell in opposition.) Are you the keeper of correct spelling, too?
https://www.foxnews.com/politics/trumps-modest-spending-cuts-package-survives-narrow-senate-vote-some-republicans-break-ranks.amp
Don’t patronize them; the actual vote on the bill was not decided by Vance, which was the picture you painted. If you’re going to call others out then make sure to look in the mirror first. A failure to move on during the procedural vote doesn’t mean the bill is dead, it has a harder path, it’s stalled.
C’mon. If you want to be serious, then be serious. Don’t straddle the fence.
They’re greasing the skids. Let whoever file their lawsuits over this nugget and then, once the administration wins, it can really go to town
Sure it would be nice to see a few more Zeros in the value of the Cuts and Expense Reductions. Yet two things to consider …. for this BILL and the next one.
Look inside any reductions for WHAT is cut or reduced. Because discontinued programs are essentially “future cuts” and “removed budget lines” no longer available to be used as cash cows via reprogramming.
As Sundance says … it’s nice to see somebody finally starting the trend rolling on reductions … some times all it takes is small spark to start the bigger fire … a nudge to create a larger amount of momentum.
It will be interesting to see how future “budget” and “spending” negotiations are conducted. With soooo many “Republican fiscal hawks” emerging to bitch about this spending reduction package and the BBB.
The recission cuts in USAID mentioned by Vought are overdue. On Truth Social, Mark Levin just reported a memo from Chairman Jordan’s House Judiciary Committee which discusses the Biden administration using USAID money to bring down Israel’s Netanyahu government.
It reminds me of a Victoria-Nuland-style “Colour Revolution.” Here’s Mark Levin’s Truth which includes the link to the House Judiciary Committee’s memo:
https://truthsocial.com/@marklevinshow/posts/114871421747700165
The Fed building would make a nice home for our homeless vets. So would the UN building, come to think of it.
Even McConnell begrudgingly voted for the first Rescission package, after saying that he wouldn’t, the two leftist women with Rs by their names voted against it, it may not even pass again in the House (there were charges made in the Senate), supposedly they are hoping to send up five separate Rescission packages.
With all the bitching and moaning about this one, people already saying they regret voting for it, this tiny 1% of 1% of the budget cut seems like a huge thing.
I believe DOGE: I feel certain there’s at least $190 Billion worth of waste fraud and abuse … cutting less than $9 Billion is just killing them.
Pathetic.
9 bil in cuts, wow
forgive me for not applauding
…it took big spending, DC, 44 years, since the prior rescission bill.
(which partly explains the huge national debts. no applause, indeed.)
President Ronald Reagan signed a rescission bill related to dairy price supports on March 31, 1981, just a day after he was wounded in an assassination attempt. The legislation was urgent, as it aimed to block an increase in dairy price supports that would have taken effect on April 1, 1981, potentially costing the government hundreds of millions of dollars.
Why is this such a struggle? Many federal facilities, for example, have simply been told things like parking lot leases won’t be renewed, so there will no longer be parking for 1000 employees closer than 3 miles from the facility..
So why is he on TV going on about investigations and “getting to the bottom” of Fed Reserve renovation? Sounds like grandstanding to the base when he could just cut it however he wanted, spend 10 seconds of thought on it and be done like most other things going on. Investigations while the work & spending continues? Sounds like he’s scared of the Fed or else he’s parading them for show (or pressuring Powell to leave now to avoid perjury charges)
I think I read it’s at 2.5 billion at the moment and still needs a couple more years.
Good grief.
There are Federal Reserve Buildings scattered across the country and all of them are palaces. Gyms, resturants, swimming pools, shooting ranges everything most people have to pay for after they receive a paycheck.
Anddddd….. the one in downtown Atlanta is directly next door to King and Spalding HQ.
They can literally walk next door to each other and figure out more creative ways to screw
the common guy.
A connection? .
The Fed kept printing money thus inflating our currency, and the Fed building remodel ballooned in cost.
I wish we could clone Russell Vought and Tom Homan as many times as we needed and put them in strategic positions throughout the administration
This is what I, we, voted for.
Most federal agencies — there are hundreds of them and I don’t know the official ‘agency count’ figure — should be shut down.
All the others need a substantive haircut.
According to the Federal Register, there are 441 agencies.
give em hell I like that
Cost overruns aka crony capitalism or just plain ole DC political corruption!!!
I trust Trump appointees, yes, including Bondi. We have, like, FOUR MAGA types at the FBI out of 40,000.
Chicanery is the name of their game and we need to play.
If they indicted every government official for cost overruns and excessive government spending there would be no government officials left to indict.
I believe that list would go all the way back to the beginning of the Republic.
The federal reserve bank is a PRIVATE bank and receive $0 taxpayer dollars! What a joke they get the USG to pay for their 2.1B revoation and then charge the USG interest for giving them money. Clown world 🤡!
Defund the fed.
He calls it a “small ” rescissions bill at $9billion, because they have plans to incorporate more DOGE cuts, BUT leaves out the fact that it was the first rescissions bill of that size since the 1990’s 😆😆😆 That’s a quarter of a century folks!!! Promises made, promises kept!