Another day, another questionable move by Federal Reserve Chair Jerome Powell. This time, it involves a request from Trump officials to tour the supposedly $2.5 billion in building renovations at the Fed. But instead of granting the request, Powell offered a “virtual site visit” on a Friday night when no one was there. This begs the question, what are they hiding?
The request for an on-site visit was made by Bill Pulte, Chairman of the Board of Fannie Mae and Freddie Mac. Pulte, a prominent businessman and philanthropist, wanted to see for himself the renovations that have been touted as costing billions of dollars. However, his request was met with a virtual tour instead of a physical one.
This move by Powell raises suspicion and begs the question, what exactly is the Fed trying to hide? Why are they refusing to grant a simple request for a tour of their own building? Is there something they don’t want the public to see?
The timing of this virtual tour is also questionable. Friday night, when most people are off work and not paying attention to the news, seems like the perfect time to conduct a tour that they don’t want anyone to know about. It’s almost as if they are trying to hide something from the public eye.
This is not the first time the Fed has been accused of shady practices. In fact, President Trump has been vocal about his criticism of the Fed and its policies. He has accused them of keeping interest rates artificially high and hindering economic growth. And now, with this latest move, it seems like the Fed is trying to cover up their actions.
But why would the Fed feel the need to hide their building renovations? After all, they have been touting it as a $2.5 billion project. Shouldn’t they be proud to show it off to the public? Or is there something more to this story?
Some speculate that the Fed may be trying to hide the true cost of the renovations. Perhaps it cost more than they initially claimed and they don’t want the public to know. Or maybe there are other questionable expenses that they don’t want to be exposed.
Whatever the reason may be, the fact remains that the Fed is not being transparent with the public. And as a government institution, they have a responsibility to be open and honest with the American people. This lack of transparency only fuels the distrust and skepticism towards the Fed and its actions.
It’s time for the Fed to come clean and be transparent with the public. They should grant the request for an on-site visit and allow Pulte and other officials to see the renovations for themselves. This will not only put an end to the speculation and rumors, but it will also restore some trust in the Fed.
In the meantime, we can only wonder what the Fed is trying to hide. But one thing is for sure, this latest move by Powell has only added to the already existing doubts and suspicions about the Fed’s actions. It’s time for them to be held accountable and to start being transparent with the American people.
