Thanks to DOGE for systematically investigating every agency of the government and ferreting out the fraud and waste. But why isn’t the secret temple of the Fed under the microscope?

A new report from the Mercatus Center finds that the Fed is outrageously spending $2.5 billion on a D.C. headquarters upgrade with a glass-enclosed central atrium, bronze and marble structures, rooftop gardens with spotlights, and other luxuries. Will they print the money to pay for it? Is the wallpaper plastered with hundred dollar bills?

The $2.5 billion cost is an astounding $470 million more than it cost to build the NFL’s Allegiant Stadium in Las Vegas.

Meanwhile, the Fed’s mismanagement of its securities portfolio has led to $220 billion in operating losses since 2022, with taxpayers set to bear a $1.5 trillion burden in the coming years.  Also, the Fed Board staff salaries continue to soar. There are an estimated 3,000 Fed employees and hundreds of PhD economists, most of whom we can live without.

We at UP and Senator Rand Paul have been arguing for sunlight at the secretive Fed and a requirement that all their meetings be open to the public and broadcast on C-Span.

What does Jerome Powell have to hide?