{"id":263342,"date":"2025-07-20T00:04:31","date_gmt":"2025-07-19T23:04:31","guid":{"rendered":"https:\/\/www.newsisc.com\/videos\/powell-defends-2-5-billion-fed-renovation-in-a-point-by-point-response-to-the-trump-administration\/"},"modified":"2025-07-20T00:04:31","modified_gmt":"2025-07-19T23:04:31","slug":"powell-defends-2-5-billion-fed-renovation-in-a-point-by-point-response-to-the-trump-administration","status":"publish","type":"post","link":"https:\/\/www.newsisc.com\/videos\/powell-defends-2-5-billion-fed-renovation-in-a-point-by-point-response-to-the-trump-administration\/","title":{"rendered":"Powell defends $2.5 billion Fed renovation in a point-by-point response to the Trump administration"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/i3.ytimg.com\/vi\/rLZyVvAgC64\/hqdefault.jpg\" alt=\"Powell defends $2.5 billion Fed renovation in a point-by-point response to the Trump administration\"><br \/> <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/rLZyVvAgC64\" frameborder=\"0\" allowfullscreen><\/iframe> <\/p>\n<p>Federal Reserve Chair Jerome Powell responded by letter Thursday to a senior Trump administration official who accused the head of the central bank of mismanaging an \u201costentatious overhaul\u201d of its Washington, DC, headquarters.<\/p>\n<p>Russell Vought, director of the Office of Management and Budget, suggested in a social media post last week that Powell had broken the law by failing to comply with government oversight regulations related to the Fed\u2019s ongoing $2.5 billion renovation, which includes the historic marble Marriner S. Eccles Building on the National Mall.<\/p>\n<p>\u201cThe President is extremely troubled by your management of the Federal Reserve System,\u201d Vought wrote in the letter he posted to social media last Thursday. \u201cInstead of attempting to right the Fed\u2019s fiscal ship, you have plowed ahead with an ostentatious overhaul of your Washington D.C. headquarters.\u201d<\/p>\n<p>Powell said in his response late Thursday that the renovation and its financing have always had careful oversight from the central bank\u2019s board and its own watchdog. He added that the Fed is \u201cnot generally subject to the direction\u201d of the National Capital Planning Commission, a body that oversees construction projects for the federal government. Powell said the Fed voluntarily opted to collaborate with the NCPC.<\/p>\n<p>CNN correspondent Brian Todd reports, and Fredricka Whitfield speaks with Bloomberg&#8217;s Amara Omeokwe. #CNN #News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chair Jerome Powell responded by letter Thursday to a senior Trump administration official who accused the head of the central bank of mismanaging an \u201costentatious overhaul\u201d of its Washington, DC, headquarters. Russell Vought, director of the Office of Management and Budget, suggested in a social media post last week that Powell had broken [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":263343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[128809],"tags":[130008,129457,129988],"actors":[],"class_list":["post-263342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cnn","tag-chair","tag-federal","tag-reserve"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Powell defends $2.5 billion Fed renovation in a point-by-point response to the Trump administration | News ISC Videos<\/title>\n<meta name=\"description\" content=\"Watch Powell defends $2.5 billion Fed renovation in a point-by-point response to the Trump administration for free, here on News ISC. 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