US EditionIMF-World Bank meetings end with little tariff clarity, but economic foreboding
- The Federal Reserve is undergoing a $2.5 billion revamp of its Washington, D.C. Headquarters despite posting operating losses of $77.5 billion last year and a total of $178 billion in losses currently.
- Professor Andrew T. Levin compared the costly overhaul to the Palace of Versailles, stating, 'The Federal Reserve is building the Palace of Versailles on the National Mall.'
- The renovation costs have increased nearly 32% from an initial estimate of $1.9 billion, with completion expected in 2027.
- Joe Grogan criticized the spending, calling it 'crazy' and suggesting that such extravagant projects indicate potential financial trouble ahead.
26 Articles
26 Articles
Exclusive | Central bankers blow $2.5BN on Fed 'Palace of Versailles' HQ
The Federal Reserve is pushing ahead with an eye-watering $2.5 billion revamp of its Washington, D.C. HQ despite mounting losses as one ex-official accused its bureaucrats of behaving like French royalty over their frivolous spending.
IMF-World Bank meetings end with little tariff clarity, but economic foreboding
Global finance leaders came to Washington this past week seeking clarity on what it would take to get some relief from President Donald Trump's multi-layered tariff assault and on just how much pain it will bring to the world economy.
World Bank meetings end with little tariff clarity, but economic foreboding
WASHINGTON -Global finance leaders came to Washington this past week seeking clarity on what it would take to get some relief from President Donald Trump's multi-layered tariff assault and on just... -April 27, 2025 at 06:12 am EDT MarketScreener
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