alebrewer
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For the most part, I agree. I suspect there's some tit-for-tat going on as well, though.
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William Pulte Chairman Fannie/Freddie Says Fed's Powell May Resign Soon.
- Thread starter glenn walker
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Gobears81
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The Fed is using concerns with tariff inflation as rationale for keeping rates steady, but tariffs would not support more than a one-time bump in price and are ultimately deflationary, due to weakening the economy. Notice that PPI was less than expected today. I understand the public having concerns over tariff inflation, but the Federal Reserve officials should be educated to the degree that they understand tariff inflation to be transitory, at best, and the fed. funds rate would not control this.
I don't trust Trump to choose a Fed chief, but Powell has been particularly poor at his job. That he has authorized over $2 Billion in expenditures to remodel Federal Reserve is indicative of the mindset of federal government politicians today. Perhaps the implications of getting fired over a remodel outweigh $2 Billion, but it would seem to be worth terminating over.
I don't trust Trump to choose a Fed chief, but Powell has been particularly poor at his job. That he has authorized over $2 Billion in expenditures to remodel Federal Reserve is indicative of the mindset of federal government politicians today. Perhaps the implications of getting fired over a remodel outweigh $2 Billion, but it would seem to be worth terminating over.
gregb
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djd09
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Fernando
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Recent reports of Trump potential to fire Powell had stock market down slightly this morning.BREAKING REPORT: President Trump Drafted Letter to Fire Jerome Powell… But Trump Says ‘Highly Unlikely’ He will Fire Fed Chair
of course he wont...he doesn't even have the guts to out the epstien johns...that is right no more support
When Trump said "Highly Unlikely", stock market went back up.
So much money to be made from inside trading.
Fernando
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It went over $600 million over budget due to inflation and such. Orignally planned since Trump's first term.There are two Federal Reserve buildings in D.C., which have a total of 402,388-square feet.
A renovation cost of $2.5 Billion is $6,213 per square foot.
Difficult to build given DC height restrictions and need to dig underground for space.
Same as CA Bullet train project going over budget.
Gobears81
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$600 million over budget due to inflation doesn't rationalize anything, but to give you the benefit of the doubt, that would be $4700 per square foot.
I question how much they would need to dig underground for on a remodeling project, but even if accounted for 50% of the additional cost, you are still at well over $2,000 per square foot.
Per Marshall & Swift, construction costs for an excellent quality, Class A governmental building is $493 per square foot and this isn't even new construction. A $100 per square foot remodel would be $40 million.