The Federal Reserve, known for its tight lips, structured formality and extraordinary power to shape the global economy, finds itself putting out the welcome mat on Thursday for President Donald Trump.
Trump and his allies say a $2.5 billion renovation of the Fed headquarters and a neighboring building reflects an institution run amok — a belief they hope to verify in an afternoon tour of the construction site. The Fed allowed reporters to tour the building before the visit by Trump, who, in his real estate career, has bragged about his lavish spending on architectural accoutrements that gave a Versailles-like golden flair to his buildings.
