A rare behind-the-scenes look at the Fed’s $2.5 billion renovation

Before the president Donald TrumpThe traditional institution in the field of construction participated in the Federal Reserve, and the traditional narrow institution participated in a series of photos on its Flickr page and issued a six -minute video round in its continuous renewal of $ 2.5 billion.

Trump insists on “lack of tension” with Powell, despite the embarrassing clash on the camera due to the cost of renewal

One of the photos, taken in 2018 but the Federal Reserve shared it last week, showed damage to ceiling paint, water collection and surface cracks.

Another image showed an open roof, construction equipment and asbestos warning signs inside the Marriner S. Eccles.

The photo was taken in 2017, but it was shared on the Flickr page in the federal reserve last week.

A recently released image shows the treatment of asbestos in the Eccles building in the federal reserve. (US Federal Reserve / Fox News)

Planning to repair the main buildings of the Central Bank – Mariner S. The historical eclos and the adjacent federal reserve building – in 2017.

The buildings were built in the 1930s and were not fully renewed, according to Federal Reserve A website.

The main management hall consisting of two floors of the Marriner S. Eccles Federral Reserve during a media tour to renew the headquarters of the central bank in Washington, DC, on Thursday, July 24, 2025. (Andrew Harnik/Getty Images/Bloomberg via Getty Images/Getty Images)

In 2021, the initial estimates of the update of the Federal Reserve headquarters in the Foggy Bottom neighborhood in the capital were $ 1.9 billion.

The Federal Reserve Renewal of $ 2.5 billion is President Trump and his team

The project to update the safety and safety standards of the building while maintaining its historical structure in mid -2012.

The Grand Atrium of the Marriner S. Eccles Federral Reserve During a media tour to renew the headquarters of the central bank in Washington, DC, on Thursday, July 24, 2025. (Andrew Harnik / Getty Images / Getty Images)

The cost of renewal has since increased to $ 2.5 billion, making it a modern flash point between Trump and the chairman of the Federal Reserve Board Jerome Powell.

Powell has already been cited inflation, unexpected construction challenges and high costs of materials – especially for steel – as major engines behind the rising renewal price.

Washington monument and the old post office tower is visible from the roof of the Federal Reserve Building at Mariner S. (Andrew Harnik / Getty Images / Getty Images)

The Federal Reserve said in a statement that some of the unexpected conditions that appeared during the renewal include “more asbestos than expected”, as well as toxic pollution in soil and sink.

Powell refused that the Trump administration claims that the continuous construction of the Federal Reserve includes luxury dining rooms, special elevators and garden terraces on the roof.

Washington’s memorial is visible from the roof of the Federal Reserve Building in Mariner S. (Andrew Harnik / Getty Images / Getty Images)

“There is no new marble,” Powell told the Senate Banking Committee in June.

“There are no private elevators. They are old elevators there. There are no new water features,” he said.

A look at the battle that reveals between Trump and Powell on the federal reserve policy

Powell also told the legislators that no one “wants to do a large renewal of a historic building during his term.”

“We decided to continue to do so because, frankly, when I was the administrative ruler, before it became a chair, I understood the poor construction of the Eccles building really to a dangerous renewal,” he said, adding that the building was “not really safe” – and no water resistance.

The MARRINER S. ECCLES Federal Board Building is characterized by tremendous renewal in the building and Al -Dustour Street Building in 1951 in Washington, DC (Andrew Harnik / Getty Images / Getty Images)

Meanwhile, the funds needed to cover the constant renewal of the federal reserve does not come from the taxpayer governor.

The federal reserve is self -financing and does not depend on congress credits or taxpayers dollars to cover its operational expenses, which include salaries, facilities maintenance and even their current renewal. The basic income of the Federal Reserve stems from the benefits it receives on government securities and fees imposed on financial institutions.

An excavator on the ground floor of Al -Dustour Street Building for the year 1951 works with a huge renovation in the building and the Marriner S. Eccles Board of Directors in Washington, DC (Andrew Harnik / Getty Images / Getty Images)

The project is expected to be completed in the fall of 2027. Employees in Washington, DC, are likely to work in March 2028.

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