Jerome Powell requests internal review of Fed HQ renovation costs: Report

14/07/2025 Argaam
Jerome Powell,Federal Reserve Chairman

Jerome Powell, Federal Reserve Chairman

Federal Reserve Chairman Jerome Powell requested the US central bank’s Inspector General to review the costs related to the renovation of its headquarters in Washington, NBC News reported, citing a source familiar with the matter.

 

The source added that Powell also asked the Inspector General to examine any other related issues deemed relevant in this context.

 

US President Donald Trump and his administration have seized on the prolonged renovation and its associated costs to accuse Powell of financial mismanagement, using it as part of a broader, ongoing campaign criticizing the Fed Chair for his reluctance to resume interest rate cuts.

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