Political Quotes

“I rise to draw some sunlight and daylight with what is actually going on at the Fed. There is a lot of commentary that you hear in the news and social media, sometimes in a world here of hyperpartisanship, the facts get lost. So I just want to support and emphasize how important the legislation is that Senator Scott is proposing. Back about 8 years ago, the Federal Reserve Board of Governors decided to renovate four buildings--four buildings that they have in Washington, DC. They came up with what I think is a very, very high budget, $2.1 billion to renovate--not to build new--but $2.1 billion to renovate four buildings. Huge number; big, big number. Now back 7 or 8 years ago, the Federal Reserve was bringing in hundreds of billions of dollars in profits, as they have for decades. So you think, well, maybe this is a needed expenditure. I don't probably think that if we had some hindsight we wouldn't have embarked on that path, but they did. One of the four buildings is on New York Avenue. They call it the NYA building. They decided to take that out of consideration. So now you have three buildings; the budget would have been somewhere around $1.6 billion.…”