What's up, my lovely people! Get ready for this hot gossip coming from Washington D.C., and it’s not because of the tropical heat! The situation is on fire because the one and only William Pulte, the head of the Federal Housing Finance Agency and the big boss behind Fannie Mae and Freddie Mac, has declared war on Jerome Powell, the head of the Federal Reserve! 🥊
And why all the fuss? Hold on tight, because Pulte is asking for a congressional investigation against Powell for supposedly telling a huge lie about a renovation costing, no less than 2.5 billion dollars! Yes, you heard right, 2,500 million greenbacks! 🤑 This project is already being dubbed the "Palace of Versailles" of the Federal Reserve, just imagine the luxury! 🏰
It turns out that Mr. Powell stood firm in front of the Senate and, with the most serious face in the world, swore and affirmed that there were no luxuries in that renovation: "There is no marble, no new water fountains, no special elevators!", said the guy with all conviction. 🤥 But, oh dear! 🚨 The Federal Reserve's own documents say something very different. The papers show that there are indeed plans for VIP private dining rooms, exclusive elevators for the big shots on the board, and even rooftop gardens for the urban fauna to live the good life! 🌳🐦 Anyone can contradict themselves!
Pulte did not stay quiet and, in a statement that leaked like water through fingers, dropped the bomb: he wants Congress to come down on Powell. He says that this man's statements were so misleading that "they justify his dismissal." Wow, serious stuff! 🔥 And to add more fuel to the fire, the one and only Donald Trump, who is always ready to give Powell a hard time, has already sent him a handwritten note demanding rate cuts. It seems like they are in a political tutti frutti! 🍍
People are fuming because, watch out!, the initial budget for this project was 1.9 billion and, like magic, it rose to 2.5 billion! 🚀 Where is all this money going, huh? Even the new JPMorgan tower in New York, a 60-story skyscraper in the heart of Manhattan, costs only 3 billion! So, how is it that the Fed's headquarters, which is much more modest, is going to cost almost the same? Something smells fishy around here! 🐟
Even Elon Musk himself got involved in the gossip, saying that the situation is "suspicious" and that oversight groups should take a closer look. 🕵️♂️ As if that weren't enough, all this chaos comes at the worst possible time for the Federal Reserve, which is already facing record red numbers, losing 114.6 billion dollars just in 2023! 📉 This means less money for education, defense, and people's health. So, while the Fed says that losses do not affect operations, spending a fortune on a "palace" doesn’t help much with credibility, right? 🤔
So, my people, stay alert with this novel that is just beginning! Will Powell have to pack his bags? Only time will tell! ⏳$BTC $XRP $ETH
