Nick Timiraos
Nick Timiraos|Jul 14, 2025 02:16
The Fed added to FAQs on its building project on Sunday that provide lots of context, including that the Fed's collaboration with the NCPC—the body that now includes three White House advisers installed by Trump last week—was voluntary and doesn't extend to any financial oversight of the project: "The Board generally is not subject to direction from the NCPC on its building projects." This explanation follows a separate, lengthy answer about who does oversee the Fed (their answer: Congress, and also an IG; but not the OMB nor the NCPC) https://www.federalreserve.gov/faqs/building-project-faqs.htm
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