This is CBS Eye on the World.

Here's John Batchelor.

Welcoming my colleague Elizabeth Peake,

who writes a column for the Hill,

a column for Fox News, much on Fox Business.

We go immediately to the renovations

at the Federal Reserve Building.

Quite fantastically, this is now at the center of a conversation about where the rate should

be cut.

How these dots connect is fun, and Liz is going to help me.

Liz, a very good day to you.

As I understand in the Financial Times this morning, that's London reporting, there's detailed analysis of the $2 billion-plus renovation plans at the Federal Reserve,

a building that was created during the dark days of the United States economy,

and it has not enjoyed a renovation updating ever since,

and so therefore, the cost being what they are,

it's turned into a money pit.

However, the reporting also included that there is very, very plush circumstances

and including artwork on the walls of the Federal Reserve,

and the whole story must include the criticism from the White

House that Jay Powell, Jerome Powell, is a poor manager of his charge at the Federal Reserve,

given that it doesn't pay for itself out of Congress's large-ass. It raises its own money and always has been in order to remain

independent. So, going after Powell for not managing a money pit seems a peculiar way to urge him

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