Newou can listen to Fox News articles!
Housing and Urban Development Secretary Scott Turner blows up the Federal Reserve chair, and Jerome Powell blows up using Billron, which had renovated the Fed’s headquarters amid the housing crisis he said Powell was perpetuating.
The Federal Reserve headquarters is suffering from cost overruns and currently has a price tag of $2.5 billion. Meanwhile, the Trump administration is responsible for not cutting interest rates, even if inflation appears to be under control.
“It’s rich that unelected bureaucrats like Powell are wasting billions of taxpayer dollars on renovations to buildings, but Americans struggle to buy homes due to the high mortgage rates.
HUD became the first Cabinet Office to announce its move from Washington, DC, and in June reported that Turner was moving to the existing National Science Foundation (NSF) in Alexandria, near Alexandria, Virginia. Turner said the move would free up taxpayer funds spent on the large and long-standing HUD headquarters of L’Enfant Plaza in DC, which also includes “health damage, leaks, structural and maintenance failures” for staff.
“The HUD movement is not about me. Our workforce is safe and deserves to be in a building that fits our workforce. NSF can’t completely fill the building and will move to a building that is best suited to the workforce. The ivory tower thinks he is on top, and puts the Americans first,” continued Turner.
HUD becomes the first major cabinet body to leave DC, quoting “failed” headquarters – Doge wants to sell
HUD Turner has accused Federal Reserve Chairman Powell of “washing billions of taxpayer dollars on renovations to the building while struggling to buy a home due to high mortgage fees.” (Getty Images)
President Donald Trump resists lowering the federal fund’s target rate and speculates that he could try to drive away the Fed’s chief ahead of his term, which officially ends in May 2026, in order to reduce borrowing costs for Americans. In June, the Fed held its benchmark interest rate range between 4.25% and 4.5%.
The Fed, which sets monetary policy and oversees banks, says interest rate decisions are rooted in a data-dependent approach to managing inflation and economic growth. It acts independently. This means that policy does not require approval from the President or Congress.
Trump has amplified his criticism of Powell in recent weeks, claiming that he should have already lowered interest rates, calling him “numbskull” along with “Mr. Mr.”. At the recent NATO summit in Canada, Trump said at a press conference that Powell was “awful” and was “a very average mental person” who “has a low IQ for what he’s doing.”
“For Sale”: Doge sells nearly 5 billion people on federal real estate and moves cabinet agent HQ
Federal Reserve Chairman Jerome Powell answers questions at a Washington Economic Club meeting in Washington, DC on February 7, 2023 (Reuters/Amanda Andrade Road/File Photo)
Trump has described the recent budget renovations at the Marriner S. Eccles building, the Fed headquarters, “a ‘burning crime’.’
“I think he’s terrible. I think he’s completely stiff. But what I didn’t see for him was the guy who needed a palace to live in,” Trump told reporters last week.
“You talk to that guy. It’s like talking. There’s nothing. It’s like talking to a chair. There’s no personality, no intelligence or anything.
HUD Secretary Scott Turner Lays out agency victory over the first 100 days and Shares the next 100 priorities
Democrats have condemned Trump’s attack on Powell on updating the Fed buildings, including Massachusetts Sen. Elizabeth Warren swiped Turner to move to Virginia.
President Donald Trump will arrive on the Southern Lawn of the White House from Camp David on June 9, 2025.
“If Trump was serious about lowering interest rates, he would curb his chaotic tariffs,” Warren said in a speech earlier this month at the Exkier Club in DC.
Trump should destroy HUD headquarters and eject DC Swamp
HUD is expected to save $22 million per year in operating and maintenance costs by moving out of the Robert C. Weaver building, but the government is expected to withdraw a large sum of money if the building is officially sold for a major location in the country’s capital.
The agency’s new home in NSF is expected to cost the government $35 per square foot compared to $86 per square foot in Weaverville, including operations and maintenance.
The federal government had spent $90 million on repairing large weavers buildings over the past 15 years, Fox Digital learned, but the building “deteriorated well beyond the point of cost-effective repairs, bringing a major federal financial obligation if residence was maintained,” HUD reported in June.
Robert C. Weaver Federalville, Washington, DC (Carol M. Highsmith/Byenlarge/Getty Images)
HUD offices are now as vacant as the “Spirit Halloween” store under Biden: Management Source
The Federal Reserve declined to comment Sunday morning when asked about Turner’s remarks on Fox Digital.
The Fed’s website includes a frequently asked questions page about building renovations. This underscores the Federal Reserve Board’s “responsible for being a good manager of public resources” and is subject to a small number of safeguards to ensure transparency.
“The Federal Reserve Chair will testify to each House of Representatives in Congress twice a year on monetary policy. During two consecutive days of hearings, the senator will have the opportunity to question the Fed chair after the hearing. As part of these hearings, the Federal Reserve will detail the recent economic and goods policy developments.”
Meanwhile, Trump, who appointed Powell during his presidency, continues to blame Powell on social media due to current interest rates that he said he was “suffocating” the American housing market.
Housing and Urban Development candidate Scott Turner was sworn in at the Senate confirmation hearing on January 16, 2025 (Getty Images via Bill Clark/CQ-Roll Call, Inc.)
“Too late,” the Fed is choking the housing market at high prices, making it difficult for people, especially young people, to buy a home,” Trump writes of the True Social Friday. Sleepy Joe saw how bad he was and reappointed him anyway. ”
Click here to get the Fox News app
“The US is rockin. There is a very low inflation, and we deserve to be 1% and save $1 trillion per year on interest costs.
Eric Revell and Amanda Macias of Fox News Digital contributed to this report.
Source link
