Powell justifies renovation of Fed headquarters

Federal Reserve Chairman Jerome Powell (72) responded on Thursday to the White House's request for information about cost overruns in the renovation of the Fed's headquarters in Washington, justifying the request. "We have taken great care to ensure that the project has been carefully monitored since it was first approved by the Board in 2017," Powell wrote in his letter to US PresidentDonald Trump 's (79) budget director, Russell Vought (49).