Powell Defends Fed Spending Amid Senate Scrutiny
TL;DR Summary
Federal Reserve Chair Jerome Powell defended the nearly $2.4 billion renovations of the Fed's historic headquarters, stating they were necessary for safety and modernization, despite criticism over cost overruns and luxury upgrades, with some lawmakers comparing the spending to palace-like extravagance.
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- Powell Says Reports of $2.5B HQ Upgrade Are Inflammatory Barron's
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