Russell Vought Asked Directly If He Thinks There's Fraud In Fed Building Renovations

Forbes Breaking News

Speaking to reporters outside the White House, OMB Director Russell Vought was asked if he thinks there was fraud in the Federal Reserve building renovations.

Transcript

00:00answering those kind of qu

00:01hard. Yeah. Yeah. Yeah. Do

00:05any signs of fraud at the

00:08are there only signs of fr

00:11we want to go over there.

00:13on. Obviously the cost ove

00:16and the extent to which w

00:19just having the inspector

00:21review is something that

00:25be enough. So we want to

00:28with the those that are i

00:30project and get a brief f

00:32where we're at. No, it's

00:38builder. He has concerns w

00:42this nature. I mean, it's

00:43an overrun of a normal bu

00:45talking about a building

00:47approaching the largest m

00:50that's ever been done on

00:53we want to know why and we

00:55the answer some clarity as

00:58with regard to this larges

01:00and it has implications

01:01for the country's fiscal

01:02situation. The fed has been

01:05mismanaged for a number of

01:06years. They're no longer

01:09providing a profit that comes

01:11back to the treasury in form

01:12of remittances. And so this

01:15something that there are

01:17implications across the board

01:18and we're going to continue

01:19to get our handle on it.

01:24Sorry, what's that? Have you

01:28been to HUD? Ever? HUD is if

01:32you had to work at HUD today,

01:34you would not want to work

01:35at HUD. Like it's a bad

01:36building. It falls like portions

01:39of the building fall on people. It

01:43needs a new building and we're

01:44going to do everything we can

01:45to make sure that career staff

01:47and the people who work at HUD

01:50have a building that reflects

01:51the hard work and public

01:52service that they're providing.

01:53Again, we're not we're not.

01:55This isn't a statement that

01:56says we're against renovations.

01:59Renovations need to occur.

02:01But the notion that moving

02:03the people out of HUD and it's

02:06literally depressing when you go

02:07there and moving them to a

02:09place where they can have a

02:11physical presence that they can

02:15do their job effectively. That's

02:17not the same thing as the $700

02:19million cost overrun.

02:20I'll get her and then you.

02:24Hi, I just want.

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