(Independent Sentinel)—Jerome Powell was criminally referred for alleged perjury over a $2.5 billion building renovation. GOP rep Anna Paulina Luna criminally referred Jerome Powell over the renovation.
The renovation of their headquarters has ballooned from 1.9 billion to 2.5 billion. Powell has asked the central bank’s inspector general to conduct an additional review of the ongoing renovation, CNN previously reported.
Last month, some Senate lawmakers grilled Powell over what they described as very lavish upgrades.
“The Fed’s renovation project was approved by its board in 2017 and originally cost $1.9 billion in 2019. Construction began in 2021, but the cost swelled to $2.5 billion because of “unforeseen conditions” requiring more spending to rectify, such as “more asbestos than anticipated, toxic contamination in soil, and a higher-than-expected water table,” according to the Fed’s website,” CNN reported.
In Powell’s June 25 Senate Banking Committee testimony, he disputed claims about expensive features in the renovation project. Powell told lawmakers there would be no “VIP dining room,” “new marble,” “special elevators,” or “roof terrace gardens” – contradicting elements that appeared in the original 2021 planning documents submitted to the National Capital Planning Commission.
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