Scott Bessent Calls for a Review of Renovation Work at the Fed

Good morning. Scott Bessent ups the pressure on Jerome Powell. There are more signs of frothiness in the stock market. And why one billionaire is leaving the Golden State. Listen to the day’s top stories.

Treasury Secretary Scott Bessent called for a review of the Federal Reserve's $2.5 billion renovation of its headquarters. It’s the latest salvo in the Trump administration’s campaign against Fed boss Jerome Powell, who has so far defied the president’s calls to cut interest rates.