Core Points - The White House advisor Russell Vought criticized the Federal Reserve's renovation project for including luxurious features such as a "VIP private dining room and elevator" [1] - The Federal Reserve launched a "Renovation Controversy FAQ" section on its website, denying the existence of a VIP dining room, VIP elevator, and new water features [1] - The renovation site is currently under construction, with asbestos removal causing significant cost increases due to safety measures [1][4] Group 1 - The Federal Reserve's renovation project has sparked controversy, with accusations of excessive spending and luxury features [3] - The project manager presented original architectural plans to counter claims of a luxury dining room, clarifying that the space has historically been used for dining and meetings [3] - Key cost drivers include a 109% increase in North American oak prices and a 42% rise in galvanized steel procurement costs [3] Group 2 - Asbestos removal has become a significant budget concern, with 36% of the original building materials containing asbestos, exceeding initial estimates by 2.3 times [4] - The Federal Reserve's financial records indicate that budget overruns are funded by interest from its $4.2 trillion in government bonds, with projected earnings of $127.9 billion in 2024 [4] - The White House budget office has sent a request for documents to the Federal Reserve, focusing on verifying the accuracy of statements made by Chairman Powell during congressional hearings [7] Group 3 - The final marble flooring plan involves recycling 85% of existing materials, with new marble only used for specific repairs [7] - The Federal Reserve's renovation is claimed to fall under its statutory autonomy, as stated in the Federal Reserve Act [7] - Increased security measures have been implemented at the construction site due to warnings of potential protests [9]