The Federal Reserve is spending $2.5 billion to renovate existing buildings for the agency.  The cost overruns so far exceed $700 billion 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):

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