Jerome Powell, the chair of the Federal Reserve, has called on the bank’s inspector general to investigate renovations at the group’s headquarters, Politico reported.
At a Senate Banking Committee hearing last month, Powell denied reports that the Federal Reserve spent billions to turn the headquarters into the “palace of Versailles,” as Sen. Tim Scott, R-S.C., described it.
“There’s no VIP dining room; there’s no new marble. There are no special elevators,” Powell said. “There are no new water features, there’s no beehives, and there’s no roof terrace gardens.”
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