💎Fed Chair Powell defends $2.5 billion luxury renovation costs
Economy
Ethics & Government Accountability
Federal Reserve Chairman Jerome Powell responded July 18, 2025, to White House criticism over the Fed's $2.5 billion headquarters renovation—10 times original estimates—that features Italian marble and gold-plated fixtures. President Trump and Press Secretary Karoline Leavitt attacked the project as wasteful while cutting food stamps, with Trump appointees on the Fed board having approved the luxury upgrades in 2023.
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Why This Matters
Fed's marble palace costs equal 5 years of school lunches for 2 million children
The $2.5 billion renovation would fund free lunch programs nationwide while Powell installs $50,000 designer toilets in executive suites.
Powell preaches fiscal discipline while approving platinum door handles
The Fed chair who raises interest rates to "cool spending" authorized $75 million for imported marble alone—more than most cities' annual budgets.
Trump uses renovation scandal to pressure Fed on interest rate cuts
White House sources confirm President Trump will demand Powell cut rates before 2026 midterms or face investigation into contracting practices.
Contact Congress to demand full audit of Fed renovation contracts
Call House Financial Services at 202-225-4247—Rep. Maxine Waters promises hearings on how $250 million became $2.5 billion.
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Detailed Content
1
Categorize these aspects of the Fed renovation controversy.
Categorize
Economy
2
The Fed's renovation costs _____ years of school lunches for _____ million children while Powell installs $_____ designer toilets.
Fill in Blanks
Ethics & Government Accountability
3
Match each Trump administration criticism to Powell's factual response.
Matching
Government
4
How much has the Federal Reserve headquarters renovation cost ballooned to?
Multiple Choice
Economy
5
Who criticized the Fed renovation as an "ostentatious overhaul"?
Multiple Choice
Ethics & Government Accountability
6
According to sources, who actually pushed for MORE marble during Trump's first term?
Multiple Choice
Economy
7
Powell's Fed term as Chairman expires in which month of 2026?
Multiple Choice
Economy
8
What famous quote did Powell make about leaving the Fed early?
Multiple Choice
Government
9
What did Trump call Powell when he cut rates during the pandemic?
Multiple Choice
Economy
13
Trump originally appointed Powell as Fed Chairman in 2017.
True/False
Economy
14
The Federal Reserve renovation is funded by taxpayers.
True/False
Government
15
The Fed renovation is subject to historic preservation requirements.
True/False
Ethics & Government Accountability