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Powell’s $2.5B Fed revamp denial exposes his privileged arrogance | Red Hot Takes
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July 22, 2025
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3:24Now PlayingIs Jerome Powell a liar or a fool?
The august chairman of the Federal Reserve Board Chair told the Senate Banking Committee last week, “There’s no VIP dining room, there’s no new marble. There are no special elevators” in the $2.5 billion renovation work at the central bank’s Washington headquarters. NY Post assistant editorial page editor Brooke Rogers shares this story.
“There are no new water features, there’s no beehives, and there’s no roof terrace gardens.”
In short, he categorically denied The Post’s reporting on the swanky “Palace of Versailles” redo — but without any explanation of why the project’s planning documents include all those features.
Those plans haven’t been revised since 2021, when the work began, with an estimated cost of $1.9 billion.
How did the price soar more than 30% if so many luxury items got dropped?
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