Rumors are swirling on Twitter right now that Fed Chair Jerome Powell is going to resign imminently, or perhaps already has. Bitcoin is usually the canary in the coal mine on these things and it’s already trading like he’s resigned — sitting at a new all time high of $111,200 as I type this.  I think someone knows. But for right now, his resignation is not official and I want to focus instead on why people are calling for his resignation. It all stems from the Federal Reserve (allegedly) spending $2.5 billion to build themselves an ultra-posh new building — and then (allegedly) lying to Congress about it. They call it the Palace of Versailles, and honestly that’s probably an understatement: Fed Chair Jerome Powell accused of lying to Congress over $2.5B ‘Palace of Versailles’ HQ revamp https://t.co/3eMo69zbgj pic.twitter.com/0MtlhGFYai — New York Post (@nypost) June 30, 2025 Here’s a quick summary: Federal Reserve Chair Jerome Powell is facing calls for investigation primarily due to allegations of misleading Congress about a $2.5 billion renovation of the Federal Reserve’s Washington, D.C. headquarters and the perceived extravagance of the project. Below is a concise summary addressing the reasons for the investigation calls, the alleged lying, and comparisons to illustrate the scale of the spending, presented in 7 bullet points: Alleged Lying to Congress:Powell testified before the Senate Banking Committee on June 25, 2025, denying that the $2.5 billion renovation included lavish amenities like VIP dining rooms, special elevators, new marble, water features, beehives, or vegetated roof terraces. However, government planning documents, first revealed by the New York Post, reportedly show these features are part of the project, leading lawmakers like Sen. Cynthia Lummis and FHFA Director Bill Pulte to accuse Powell of providing “factually inaccurate” and “deceptive” testimony under oath. Calls for Investigation:FHFA Director Bill Pulte, Sen. Cynthia Lummis, and others, including President Donald Trump, have urged Congress to investigate Powell for misleading testimony, with Pulte claiming the “scandal stinks to high heaven” and warrants removal “for cause.” Critics argue Powell’s statements reflect mismanagement and a lack of transparency, prompting demands for accountability. Cost Overruns and Extravagance:The renovation, initially budgeted at $1.9 billion in 2019, has ballooned by 30% to $2.5 billion due to rising construction costs and scope changes. Critics, including Sen. Tim Scott and former Fed advisor Andrew Levin, liken the project to the “Palace of Versailles” for its luxurious features, deemed wasteful amid economic struggles for many Americans. Comparison to NASA’s Artemis Program:The $2.5 billion could fund roughly half of NASA’s Artemis I mission (estimated at $4.1 billion), which launched a crew-capable spacecraft to orbit the Moon. This highlights the Fed’s renovation costing as much as a significant portion of a historic space exploration effort. Comparison to Aircraft Carrier:The cost matches the price of a Gerald R. Ford-class aircraft carrier (approximately $2.5 billion per ship, excluding R&D). The Fed’s renovation, for a single office building, rivals the expense of a state-of-the-art naval vessel critical to national defense. Comparison to Hospital Construction:Building a large, modern hospital, like the 1,000-bed UCSF Medical Center at Parnassus Heights, costs around $1.5–$2 billion. The Fed’s $2.5 billion could fund an entire advanced medical facility with capacity to serve thousands, underscoring the renovation’s disproportionate expense for administrative upgrades. Public and Political Backlash:The project’s optics, during a time of high inflation and interest rates (4.25–4.5% range), have fueled public outrage, amplified by figures like Elon Musk calling for scrutiny of taxpayer-funded spending. Posts on X and media reports reflect sentiment that the Fed’s priorities are misaligned, with luxury upgrades seen as tone-deaf. Allow me to put this into context for you… Do you remember when Jerry Jones built the lavish new Dallas Cowboys stadium with the retracting roof? State of the art, luxury in every way. That cost $1.3 billion. And it’s a freaking FOOTBALL STADIUM! Jerome Powell and his buddies at the Federal Reserve built themselves a palace office building for twice that! I think the toilets literally have litter butlers that emerge and wipe your butt each time you’re done using them! Insane! Just to give you an idea of how much DC steals from us… Jerome Powell wants $2.5 billion to “renovate” the Federal Reserve building. Dallas Cowboy stadium cost $1.3 billion to build. You could build 2… pic.twitter.com/8OPRRCrDsP — C3 (@C_3C_3) July 8, 2025 President Trump has called on him to be investigated: JUST IN: President Trump says Congress should investigate Fed Chair Jerome Powell. pic.twitter.com/ltXgOUXPeR — Watcher.Guru (@WatcherGuru) July 8, 2025 Senator Cynthia Lummis just said he is unfit for office: Jay Powell has proven time and time again that he is unfit to run the Fed. He must resign now. — Senator Cynthia Lummis (@SenLummis) July 9, 2025 Can you feel the doors closing in? President Trump says he is costing us $360 billion a year, and honestly, it’s probably closer to $720 billion if the truth were known: It’s time for Jerome Powell to lower the rate or resign in disgrace. pic.twitter.com/VLtXmZh3vs — Proud Elephant (@ProudElephantUS) July 9, 2025 U.S. Director of Federal Housing Bill Polte called for his investigation: Jerome Powell needs to be investigated pic.twitter.com/A0e4THVgxB — Pulte (@pulte) July 2, 2025 And just today President Trump said he should resign immediately: JUST IN: President Trump DEMANDS Jerome Powell “RESIGN” in disgrace “IMMEDIATELY” as Fed Chair and says Congress should investigate his corruption.pic.twitter.com/lUuvbJdzTW — Proud Elephant (@ProudElephantUS) July 8, 2025 Here’s more from the NY Post: Federal Reserve Chair Jerome Powell is being accused of lying to Congress after he denied that a $2.5 billion revamp of the central bank’s Washington headquarters will load the facility with lavish amenities — and some are demanding that he be punished, The Post has learned. Powell called The Post’s exclusive report in April about the bloated renovation project — which led Sen. Tim Scott (R-SC) to liken it to the “Palace of Versailles” during a grilling by the Senate Banking Committee last week — “misleading and inaccurate.” “There’s no VIP dining room, there’s no new marble. There are no special elevators,” Powell insisted under questioning from the powerful panel on Wednesday. “There are no new water features, there’s no beehives, and there’s no roof terrace gardens.” But Powell — who is meanwhile facing heat from President Trump over a failure to slash interest rates — directly contradicted the project’s own planning documents, which were signed off on by government pen pushers in 2021 — and which haven’t been revised since. The costly vanity project was signed off on by US government pen pushers in 2021 and costs are already overrunning. “The private dining rooms on Level 4 (of the Fed’s Eccles building) will be restored,” reads one excerpt from the filing with the National Capital Planning Commission. “The Governors’ private elevator will be extended to discharge at the dining suite level.” The documents also expressly mention “vegetated roof terraces” that will welcome “urban wildlife and pollinators” as well as new marble and water features. Andrew T. Levin — a professor of economics at Dartmouth College who served as an economist and advisor to the Fed’s board from 1992 to 2012 — urged Congress to step in and punish Powell for lying to lawmakers. “A top Fed official cannot be permitted to make false statements under oath at a congressional hearing. Such statements must be promptly corrected, and in egregious cases, subject to censure by the Senate,” Levin said. Fun tip….you don’t have to fire Jerome Powell if you just END THE FED. Just sayin’! More here: The SCAM of Central Banks — EXPOSED and EXPLAINED Share!