Federal Reserve renovation prompts misinformation
Agence France-Presse
Social media posts are sharing a video of the Federal Reserve building in Washington as evidence that the US central bank has no money. But the 2023 clip shows a white construction fence installed for renovation work, and economists say the Fed has wide-ranging powers that make it virtually impossible to run out of cash.
"The Federal Reserve is Boarded Up. Probably preparing for when people realise the banks haven't got their money," says a July 8, 2024 X post with a video of a fence in front of the Fed headquarters.
Similar posts sharing the video have circulated on TikTok, Facebook and Instagram -- the latest in a series of conspiracy theories about the Fed.
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