He allegedly lied to Congress about $2.5 billion in renovations for a new HQ rivaling the “Palace of Versailles” in its opulence.
Powell denied during a Senate Banking Committee hearing last month that the lavish upgrades, including plans for a VIP dining room and roof terrace gardens, were being made to the Marriner S Eccles Federal Reserve Board Building on the National Mall and said the facility “really needed a serious renovation” since it “had never had one.”
Both those statements are false, according to a criminal referral that Luna (R-Fla.) passed along to the Department of Justice on Saturday.
“According to the Federal Reserve’s final submission to the National Capital Planning Commission (NCPC), nearly all of those assertions … are contradicted by the actual project plans,” she wrote.
“The Federal Reserve Board conducted a comprehensive renovation of the Eccles Building from 1999 to 2003, which included the replacement of the roof, all major systems, and a full refurbishing of interior and courtyard spaces,” Luna added.
This is just the latest old Jerry is dealing with. President Trump has been calling for the Fed to reduce the Fed discount rate almost since he returned to office, but in his hubris, he has kept the interest rates higher than almost all other world central banks.
His reasoning? Inflation will continue to skyrocket with the advent of the Trump Tariffs. But he has been proven wrong every single month, as inflation has dropped every single month since Trump took office, remaining under 3%, even as the tariffs remain in effect AND the markets continue to rebound.
And Treasury Secretary Scott Bessett recently revealed that there is a short list of candidates to replace him, should he suddenly resign.
It might be time for Jerome Powell to make a mad dash out of Dodge while he still can.
No comments:
Post a Comment