Rumors are still roaming on Twitter whether Fed Chair Jerome Powell is going to resign adjacently, or perhaps already.
Bitcoin is usually a canary in the coal mine on these things and it is already doing business as he is resigning – sitting at a new time to sit at a high level of $ 111,200 because I type it. I think someone knows.
But for now, his resignation is not official and I want to focus on why people are calling for his resignation.
All this stems to make itself an ultra-wash new building to spend $ 2.5 billion from the Federal Reserve (allegedly)-and then (allegedly) lie to the Congress about it (allegedly).
They call it the palace of Versay, and honestly it is probably an understanding:
Fed Chair Jerome Powell accused the Congress of $ 2.5B ‘Palace of Versay’ lying to the Congress. https://t.co/3Mo69zbgj pic.twitter.com/0mtlhgfyai
– New York Post (@nypost) June 30, 2025
Here is a quick summary:
Federal Reserve Chair Jerome Powell is facing calls for investigation The Federal Reserve’s Washington, DC headquarters and alleged renewal of $ 2.5 billion of alleged wastage of the project about the allegations of misleading. Below is a brief summary that addresses the causes of the probe call, allegedly lying, and compared to painting the scale of expenses, presented in 7 bullet points:
Allegedly lie to Congress:
Powell testified before the Senate Banking Committee on 25 June 2025, denying that the renovation of $ 2.5 billion included grand features such as VIP dining room, special lift, new marble, water features, bees, or vegetative roof roof. However, government planning documents made first disclosure New York PostIt is reportedly showed that these features are part of the project, Sen. Prominent MPs such as Synthia Lummis and FHFA Director Bill Pult accused Powell of providing “factual wrong” and “misleading” testimony to Powell.Call for investigation:
FHFA Director Bill Pulte, Sen. Synthia Lummis, and others, including President Donald Trump, have urged the Congress to investigate Powell for misleading testimony, in which Pulte said “the smell of scam for the higher heaven” and said “for the reason”. Critics argue that Powell’s statements reflect mismanagement and lack of transparency, motivating demands for accountability.Cost Overn and wastage:
Initially in 2019, a budget of $ 1.9 billion, renewal, rising construction costs and scope changes have ranged from 30% to $ 2.5 billion. Critics, including Sen Tim Scott and former Fed consultant Andrew Levin compared the project for “Palace of Versay” for their magnificent features, are considered useless intelligent among economic conflicts for many Americans.Comparison of NASA’s Artemis program:
The $ 2.5 billion NASA’s Artemis I mission (estimated of $ 4.1 billion) can fund a crew-able spacecraft to revolve around the moon. This highlights the cost of renewal of the Fed as an important part of a historical space exploration effort.Comparison of aircraft carrier:
Cost a garald r. The Ford-Class aircraft corresponds to the price of carrier (except for $ 2.5 billion per ship, except R&D). The renovation of the Fed for a single office building, rival the expenses of a state -of -the -art naval vessel for national defense.Comparison of hospital construction:
The Paranasus Heights cost a large, modern hospital, like a 1,000-bed UCSF Medical Center, about $ 1.5- $ 2 billion. The fed’s 2.5 billion dollars can fund a complete advanced medical facility with the ability to serve thousands, outlines uneven expenditure of renewal for administrative upgradation.Public and political backlash:
During the time of high inflation and interest rates (4.25–4.5% range), the project optics has promoted public outrage, such as the alone musc for data to check the taxpayer-funded expenses. The posts of X and Media Reports have shown Bhavna that Fed’s priorities are incorrectly understood, in which luxury upgradation is seen as tone-defaments.
Allow me to put it in reference to you …
Do you remember when Jerry Jones built a grand New Dallas Cowboy Stadium with the rebuting roof?
Art status, luxury in every way.
It costs $ 1.3 billion.
And this is a terrible football stadium!
In the Federal Reserve, Jerome Powell and his friends made themselves twice for a palace office building!
I think the toilet is literally litter butler who emerges and wipes your butt every time you are using them!
crazy!
Just to guess how much DC steals us …
Jerome Powell wants $ 2.5 billion to “renovate” the Powell Federal Reserve Building.
The cost of the Dallas Cowboy Stadium is $ 1.3 billion.
You can build 2 … pic.twitter.com/8oprrcrdsp
– C3 (@C_3C_3) July 8, 2025
President Trump has called for investigating him:
In the bus: 🇺🇸 President Trump says that the Congress should examine Fed Chair Jerome Powell. pic.twitter.com/ltxgouxper
– Walker. Guru (@watcherguru) July 8, 2025
Senator Synthia Lummis said that she is disqualified for the office:
J Powell has again proved the time and time that he is unqualified to run the fed. He will now have to resign.
– Senator Synthia Lummis (@Senlummis) July 9, 2025
Can you close the inside doors?
President Trump says that he costs US $ 360 billion per year, and honestly, it was probably close to $ 720 billion if the truth was known:
This is the time to reduce rates for Jerome Powell or resign in insult. pic.twitter.com/vltxmzh3vs
– Proud Elephant of (@Prodelephantus) July 9, 2025
US Director of Federal Housing Bill Poulte called for his investigation:
Jerome Powell needs to be examined pic.twitter.com/a0e4thvgxb
– Console (@Pulte) July 2, 2025
And today President Trump said that he should resign immediately:
🚨 In the bus: President Trump demanded Jerom Powell to “resign” in insult as a fed chair and said that the Congress should investigate its corruption.pic.twitter.com/luuvbjdztw
– Proud Elephant of (@Prodelephantus) July 8, 2025
More than here Post,
Federal Reserve President Geom Powell is being accused of lying to the Congress, as he denied that the Central Bank’s Washington Headquarters will load the facility with grand features of $ 2.5 billion with grand facilities – and some are demanding that they be punished, the post has learned.
Powell said about the puffed renewal project of the post in April-which was liked by Sen Tim Scott (R-SC) for “Versay of Versay” during a grilling by the Senate Banking Committee last week-“misleading and wrong.”
“There is no VIP dining room, no new marble. There is no special lift,” Powell stressed on Wednesday as an interrogation of a powerful panel. “There are no new water features, no bees, and no roof roof gardens.”
But Powell – Meanwhile, who is facing heat on failure to reduce interest rates from President Trump – directly denied its planning documents of the project, signed by the official pen pushers in 2021 – and has not been modified since then.
In 2021, expensive vanity projects were signed by the Penchers of the US government and the cost is already overrolling.
The National Capital Plannings reads an excerpt from the filing with the Commission, “Private Dining Room on Level 4 (Fedes Excel Building) will be restored.” “The private lift of the governor will be extended to discharge at the dining suit level.”
The documents also clearly mention the “vegetative roof roof” which will welcome new marble and water characteristics with “urban wildlife and pollutants”.
Andrew t. Levin – A professor of economics at Dartmouth College, who served as an economist and advisor of the Fed from 1992 to 2012 – urged the Congress to decorate Powell to lie to MPs.
Levin said, “A top Fed officer cannot be allowed to make a wrong statement under the oath of Congress. Such statements should be corrected immediately, and in arrogant matters, subject to the sensor by the Senate,” Lavin said.
Funny tip…
just sayin’!
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