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Forbes Breaking News
  • 6 months ago
During a press gaggle on Friday, Office of Management and Budget Director Russel Vought spoke about Fed Chair Jerome Powell.
Transcript
00:00Look, we have substantial questions with the testimony they gave to the hill in
00:09response to questions about the building. He has articulated that there have been
00:14material changes to the national capital planning proposal that was approved. And
00:20so we want to get to the bottom of his statements as compared to the various
00:25parts of the plan. That was the nature of my letter yesterday. Does the
00:29those are the types of questions that the commission will be asking in the
00:33coming weeks.
00:40This this is about the renovations that are occurring, the extent to which they
00:47are largesse. The cost that we're talking about is now 2.5 billion. If you look at
00:53the actual Palace of Versailles, if you were to update those figures for where
00:58we in modern numbers, it would be $3 billion. The capital was about two and a
01:04half billion dollars from all of its different buildings from the founding of
01:08the country to 1982. You look at the biggest buildings across the world and
01:14this is approaching that level. I mean, it probably would qualify as one of the
01:19eight wonders of the ancient world if you were able to go back that far. And
01:24ultimately, when did that ever go through a review by a democratic body? And so this
01:32is the National Capital Planning Commission will now have an opportunity to
01:36ask some tough questions of the Fed. We will be asking tough questions with
01:40regard to the Fed. But this is about the president being offended at cost overruns.
01:46He's a developer and the size of this project is something that should never have gone forward.
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