Fed pushes back on White House claims of extravagant renovations

Federal Reserve video says project is modernization' of two buildings that have not had major renovations since 1930s

The US Federal Reserve is pushing back against claims from the White House that it is undergoing extravagant renovations with a video tour showing the central bank's ongoing construction.

The video, posted on the Fed's website, includes captions explaining that the project is a complete overhaul and modernization" of two buildings that have not had major renovations since the 1930s.