The Federal Reserve is spending $2.5 billion to renovate existing buildings for the agency. The cost overruns so far exceed $700 million in taxpayer money. Both President Trump and OMB Director Russ Vought are furious at the costs.
The $2.5bn refurbishment of the FED headquarters is at the center of focus by the White House, looking specifically at Jay Powell the central bank’s chair. Russell Vought has compared the ridiculous renovation cost to the building of the Palace of Versailles and described cost overruns as “outrageous”.
President Trump, a builder who knows the price of all things in the construction sector, takes matters into his own hands and grabs a hard hat to tour the facility that is not expected to be finished for another two years. Here are his initial remarks (prompted):
.
Retired Magistrate here: Never try to pull the wool over the eyes of a man who knows how to build things and how much those things should cost.
Why not use the interest on our debt to pay for it.
The Federal Reserve typically funds its projects through Internal Reserves: The Fed uses its own financial resources, which are generated from its operations, including interest on government securities and other investments.
It’s no small wonder why Powell has refused to lower interest rates – he desperately needs the revenue from the higher interest to pay for this ostentatious & irresponsible monstrosity.
Ahhhhhhh!!! 😎
😎
One upvote is not enough, Marcia…
Here you go.
Haha, “We Don’t Deserve Him!”
-Greg Gutfeld
A hulk hogan pile driver would make good video there 😂🤠
Hulk Hogan died today.
We lost Ozzie Osborn too!
And Malcolm Jamal Warner
Wow. Look at Powell’s face. That’s not a deer in the headlights…more like an old hound dog at the vet…
😂 😂 😂
Yeah, about to be castrated. lol
My truck is putting on the miles today…
You go girl!!!
Try and stop me!!! 😉
Powell is a snake. Not a team player.
Jerome Powell body language strongly suggests he might as well be wearing a “I’m Guilty” T-shirt.
Or he needs a fresh set of undees.
…and…
I hope President Trump ripped him a new one.
Probably did after the President told him he needed to lower interest rates.
I bet Trump could get it done in 9 months, not 2027.
And for less than a billion $$$$
Nope. Three years from start to finish (backdating to the start of the thing), but UNDER BUDGET, and for maybe $1B max.
The Fed would also look like a gold palace when he was done, too, a very functional palace.
Well they need time to put all the spy equipment in place.
Just like the ice rink…
That’s one of the things Trump is famous for.
I was a New Yorker during the Wollman Ice Rink debacle. It was over budget and behind schedule. Trump, builder developer extraordinaire, took on the incomplete project and finished it under budget and ahead of schedule.
And we should not be paying any of this for a private corporation.
X1000
Amen. We are building Palaces for Degenerate Psychopaths with our Taxpayer Money.
But, Federal is in the name!!!!
The late Aaron Russo, made a great documentary about the doings, of the so called, Federal Reserve.
At the time, it astonished me how many people think the Federal Reserve, is an arm of the Government. So many uninformed voters out there, and I’m sure it hasn’t really changed.
The cover-up in the name! Just kinda like the Patriot Act. Ain’t nuffin patriotic there!
Just like in Federal Express or Federal brand ammunition.
I hope that President Trump pulls the plug on this obomination against taxpayers.
Am certain that the FED will do fine in its current digs.
I hope the same Chris H.
Let the Federal Reserve rent something plain and cheap and let the employees work on used metal desks lined up side by side.
No fancey bathrooms, no elaborate gym.
Not federal. Has no reserve.
Powell looked small and weak next to the most powerful man in the world.
I especially enjoyed watching him timidly shaking his head and attempting to argue with President Trump. It brought back memories of me arguing with my Dad when I was a child. That didn’t go well either.
All that was missing was “I’m going to get the belt”
“I have a sentimental weakness for my children and I spoil them as you can see. They talk when they should listen.” – Don Corleone
…leave the gun. Take the cannoli!
Oh Noooooo! Not the belt! Got belted twice in my entire childhood.
When I grew up to be a man I told Dad it was the best thing ever happened to me and I deserved both of them.
I got it once. Learned my lesson.
A younger brother never learned…..got it many times.
Nature not nurture…..
I, too was a slow learner.
It was the switch for me.
Both
got it almost daily. When not the belt, a book or a shoe.
SKIN FLOGGING ????highly deserved…..
Powell looked like a Mike Dukakis bobblehead in that hard hat.
Was there ever really a time when this – Our CHAMPION – was NOT The Big Dog?
No.
Trump, Trump, Trump Trump.
Powell is busted👏👏👏
His posture and face says it all…especially when VSGPDJT pulls out the receipts.😁🤣😅
“The Federal Reserve is spending $2.5 billion to renovate existing buildings for the agency.”
$700B in cost overruns or $700M?
That said, while we the people are spending 100s of Bs in higher interest rates on the debt because this 🤡 won’t lower interest rates? Run his ass outta town on rail. After he’s tarred & feathered.
Million…..but that’s a lot of $$$$
✔️
Para 1 Typo… Cost over runs exceed 700 Billion?? Hope not! Should be 700 MILLION?
👆 👆 👆
Powell always always always wears a purple tie signifying his being bought and paid for by the Globalists.
LET THE BANKS Pay for THIS BOONDOGGLE !
Commerce Banks Interest Rates and FEES Should COVER THIS PRIVATELY OWNED / FEDERAL Govt SPONSORED B.S.
a Local Bank’s info.
https://smartasset.com/checking-account/horizon-bank-in-banking-review
THEY INVEST in COMMERCIAL REAL ESTATE… LET THEM FEED the FEDERAL RESERVE D.C. Headquarters
How is it even possible that the FED needs a $2.5 BILLION building to operate?
I mean — what the ever loving flying fish is WRONG with our system????
Buy gold, buy silver, buy brass.
Lots of brass. Lead too.
This doesn’t take genius level leadership, doesn’t require a PhD in Economics. It is simply a matter of leadership being honest with the American public that you are and have been ripped off to the tune of trillions of dollars. Your middle class has been decimated, your cost of living much higher than need be, your federal government that promotes a weak dollar due to debt, a federal government that promotes a culture of dispair and ruin. None of this is complicated. It called graft, greed and corruption and fake civil service claims of those in power.
Powell SHOULD BE Wearing a KICK ME HARD Sticker on the Hardhat !
https://www.thegatewaypundit.com/2025/07/watch-fed-chair-jerome-powell-tries-argue-trump/
I really believe that arrogant ass Powell thought he would be able to handle President Trump easily when he threw on his hard had and strode into the lobby to walk with him….LOLOLOLOLOLOL….
Oh, I think you win the thread right there.
He probably did!
Isn’t this what’s now called a “self-own”?
I am still laughing an hour later…He was arrogant enough to think he could walk through a construction site with Donald trump who literally helped BUILD the NY skyline…still laughing…
The Don will hand him his ass on the way out, possibly without saying a word… I predict.
Maybe Sen. PuresStrings will let it slip soon what really happened during & after the walk through –
isn’t that why he was invited along?
Chair of the Senate Banking Committee wasn’t brought along by POTUS to translate Powell’s impotent stuttering.
We’ll see what happens.
Corruption
After watching this, I wouldn’t be surprised if interest rates were lowered
I watched President Trump tour the Federal Reserve Building today. It looks like a demolition crew came in and tore the WHOLE building apart, instead of tearing up one section at a time and renovating it one section at a time. My suggestion is to sweep the floor, set up some card tables and chairs and get back to work!
In every city across America, where there is a federal office, it is always CLASS A real estate, whether the Feds own it or lease it.
It absolutely drives me nuts whenever I see it. As an example: check out the FBI field office in Cinci. Custom built for all those nefarious criminals running around Southern Ohio. And it is located in absolutely the most expensive area of town.
https://sl.bing.net/g3TeFCIWoqi
TVA built huge office buildings throughout their territory, and so far as I can see they are mostly empty.
And this is why I owe hard-earned income to the US Treasury?
+ Ukraine human trafficking + biowarfare + money laundering?
Jerome really doesn’t look like he wants to be there. lmao
Powell looks VERY unhappy to be there. There are no cordial smiles. He’s tense. His mouth is in a permanent frown. I suppose that he’s compelled to be there. He knows that he’s on his way out. He knows that if the next Fed chairman (or interim chair) agrees with Trump, lowers interest rates, and the country takes off booming, as it looks as though it’s on the precipice to so, his reputation will be as tarnished as much as Trump’s economic reputation, will further glow.
I think Powell knows that his current decisions are wrong. He’s trapped by circumstances as much as any ideological differences. He’s ALREADY defeated, on any issues he cares about. Yet, he does have a constituency on the political left that he’s already committed himself to. In a sense, he’s going down with the ship, due to “family” expectations.
I mean, look at him. He’s withered, unhappy old man, in the presence of a pretty great one.
Lowering interest rates before the election to help Biden is an outrage. Inflation is lower now than when he lowered rates for Biden. Powell played politics then and is playing politics now.
It looked like the cost was 3.1 Billion not the 2.7. It seems Powell removed the completed buildings numbers but no doubt they were in the initial budget. Powell may have removed them so the overrun looks less and the total spending looks less. As it stands it looks like Powell is trying to understate the overrun by 400 to 500 million. If it was private sector, President Trump would have fired him on the spot.
Chairman Powell doesn’t look too happy. Looks like he wanted to be anywhere else but in that hallway with President Trump. He probably felt good and justified taking as much as he could for the ‘renovation’ of his buildings. After all, he was doing the same sort of thing every other agency head in DC has been doing for years. When the federal pocketbook is open, take as much as you can for all your pet projects. After all, it’s other people’s money. But now his palatial dreams are under the microscope and he might not get quite as much marble or of as high a grade and it’s making him look bad in the process. In his position he should know just how bad the federal debt is and he is still acting like that? Well boo hoo if it makes him look bad.
He’s talking to someone who is both his ultimate boss AND a master builder. He’s screwed…
Powell looks a lot older than his age of 72, I thought the guy was in his early 80s.
We can all probably guess why.
Jerome Powell is not fit to manage, build or maintain a child’s lemonade stand. World class…
Why is it that whenever the Federal Reserve is discussed we are always told they aren’t a government entity, and yet now, when the building is being refurbished, we, the tax payers, are paying for it?
Because the Federal Reserve Bank is a den of thieves.
Apparently they have enablers. How convenient that is for them.
So…
The fed is independent, and not part of any of the 3 constitutional branches? But paid by our tax dollars and responsible for the stability of our currency?
Has the constitutionality of this ever been ruled on by SCOTUS?
Powell was gonna try and hide in the shadow until Trump dragged him out in front of the camera.
Classic.
Good grief, the Fed is a REGULATORY suggestion agency!
It’s NOT Fort Knox!
3.2 BILLION.
How much regulating is THAT per dollar??
HILARIOUS!!!!
Way to put Jerome on the spot.
Pressure ON.
He won’t lower rates, but he’ll blow billions out his rear. That’s the message to Americans. LOL.
I was hoping Trump was gonna take his hard hat and whack Powell over the head with it when they took them off…..
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Did I dream it, or did PDJT poke Jerome in the back lightly when suggesting rates need to be lowered?
I caught this live and was also rotfl at the Bossness in that encounter.
He offered a firm encouraging “push”!
I think he knocked the breath out of him.
Hard slap
The Big Banks are “Raking In” Billions of dollars everyday that Powell keeps Interest Rates artificially HIGH.
Powell is such a self-serving globalist runt-weasel. Reminds me of the current un-elected and installed Canadian globalist stand-in Mark Corney.
ALREADY a PROVEN RELATIONSHIP
” Central banks can no longer afford to act in isolation ” – Financial Times Article and in the Los Angeles Times
https://www.latimes.com/business/story/2019-08-26/dollar-international-currency-dominance-problem
Marx Carnage
Who in Congress, or their immediate families, own stock in the contractors building this “palace”?
Good question.
If I were Powell, rather than argue with PDJT about whether and how much, he should have just slipped away. He looked like a dud. He acted like a dud. He was caught and looked stupid. There’s no justification for keeping interest rates as high as he is given a couple of things: 1.) Inflation continues to be tamped-down under the totality of PDJT’s actions. 2.) Prior to the 2024 election, he oversaw a cutting of interest rates by 50 basis points to try to squeeze a little more juice to help Biden, and conditions, particularly inflation, were demonstrably worse. It was a clearly political move. I know it is held that PDJT can’t fire Powell, but I think he should consider giving it a shot. This guy is a dud, and a political actor too. Obvious political motives.
There’s going to be a hearing in an action in DC court Monday afternoon, to determine whether Tuesday’s meeting of the Fed Reserve can be held behind closed doors. (The law says it can’t, but Powell has been doing it anyway.) (Sued by InvestAzoria in Sunshine law suit.)
Yes! Bannon had the initiator of that suit on the warroom directly after.
I can’t remember his name, but he had a GREAT line:
“Powell is the Fauci of the economy.”
this White House video is after the President left the construction site and he answered some more press questions; 13 minutes in length:
Thanks Bessie.
“I think he’ll do the right thing.” – is Trump’s way of saying ‘the easy way or another way’.
Replacement for Powell is on deck already, either way…
it’s good to be clear.
Powell is not really in charge of this construction project but he may be the one responsible or the fall guy…
This is just an example of incompetent all of DC is .. how it treats other people’s money
How they don’t take accountability.. the operate like trust fund brats… the money will never run out… just ask theM!!!
…and Trump is the bad guy for point it out…
OK…he’s not tne Project Manager.
But he’s the durn APPROVER of everything being done!
That, while probably being ignorant of which end of a hammer is which.
I spent a good part of my career doing restoration work on historic buildings. Most owned by governments or universities (but I repeat myself). The nature of the work, and the way the government pays, always leads to cost over runs. This is always planned for. Always. When Powell says they have reserve funds this is what he is referring to.
However, running what looks like 30% over budget on a tax payer funded job that doesn’t look close to completion should warrant some investigations.
A lot of people have become multi millionaires since the start of this pet project.
What garbage.
Agree , but cannot justify spending billions of taxpayer $ on a non historical monstrosity of a building that serves no purpose to the citizens of our country .
Watched it with the sound of…..dead career walking or, in Powell’s case, shambling. Looks like the DS might be losing another bastion of their cherished, ‘delay Trump’ defence line.
Jerome looked extremely small in more ways than one.
Jerome looked a guy that had never been audited. Everyone in government needs to be audited just like all of us get audited.
Slippery shyster schmuck Powell trying to exclude the phase 1 costs of the 3rd (1st) building from the total.
And hes in charge of the FED.
And trying to slip that past a man who has been financing construction projects for 3 to 4 decades.
Powell should be fired IMMEDIATELY! (IMO)
He is costing us a fortune in more ways than one.
Grrrrrrrr.
This sideshow should wake the rest of the people up about the Fed
End it
Well, they need the extra room to store all that printing ink they’d hoped to use if Kammy had won.
Time to scale it back Jerry, The Donald is taking this over.
Step aside!
It’s a lousy government building like a post office or IRS Office that at most needed some repairs, paint and new carpet not a $2.5 billion vanity make-over!
If Powell approved this he should be fired for cause!
$2.5 billion!
That could buy 1,000 $2.5 million homes, aka mansions. .
Or, its the approximate cost to build two brand new Dallas Cowboy Stadiums complete with parking facilities. Think of that?
The bald faced arrogance.
Giving all of us Americans the finger.
Good God!
Try this one: SoFi Stadium in L.A. Final construction cost in 2024 inflation adjusted dollars – $6.7 billion.
How much did the new FIB facility headquarters cost?