🏛️ POWELL UNDER FIRE: $2.5B FED HQ RENOVATION EXPLAINED 🇺🇸⚠️
Fed Chair Jerome Powell is facing intense scrutiny after details emerged around the $2.5 BILLION renovation of the Federal Reserve’s historic headquarters.
🔍 What happened?
• June 2025: Powell testified before the Senate Banking Committee
• July 2025: Follow-up written responses + a Trump-led site tour
• Early 2026: DOJ launches a criminal investigation, issuing subpoenas
💥 Why costs exploded:
• Asbestos & lead removal 🧱
• Major safety & accessibility upgrades ♿
• Inflation-driven labor & material costs 📈
• Modernizing century-old 1930s buildings
❌ Powell firmly denies claims of luxury upgrades
✅ Says project is about safety, compliance, and long-term efficiency
⚠️ Why markets care:
• Fed independence under pressure
• Political heat = confidence risk
• Macro uncertainty fuels volatility across risk assets
👀 Coins to watch as macro tension rises:
$ZEN |
$ICP |
$DOLO #Write2Earn #MacroNew #FedWatch