US Edition
White House escalates pressure campaign on Fed chair by targeting its headquarters renovation
DISTRICT OF COLUMBIA, UNITED STATES, JUL 10 – Office of Management and Budget Director Russell Vought alleges Federal Reserve Chairman Powell misled Congress on a $2.5 billion renovation, $700 million over budget, with questionable luxury features.
- On Thursday, Office of Management and Budget Director Russell Vought accused Federal Reserve Chair Jerome Powell of gross mismanagement over a $2.5 billion headquarters renovation, citing cost overruns and compliance issues.
- Following Trump’s repeated demands for rate cuts and Powell’s refusal, tensions escalated amid ongoing conflicts over monetary policy independence.
- Vought highlighted a $700 million overrun to $2.5 billion, citing lavish features and possible violations of the National Capital Planning Act.
- In the letter, Vought posed 11 questions about the renovation, announced oversight steps, while the Fed declined to comment.
- The letter sets a seven-business-day deadline for Powell’s response, highlighting legal protections against firing and fueling discussions of potential leadership changes.
84 Articles
84 Articles
OMB Director Questions Powell Over Fed HQ Renovation Spending
Office of Management and Budget (OMB) Director Russell Vought has criticized Federal Reserve Chairman Jerome Powell in a letter dated July 10 and said he is concerned about the renovation cost for the central bank’s headquarters in Washington. Vought said plans for the building may have violated government building rules and warned that the construction could be halted immediately. “The President is extremely troubled by your management of the F…
ThePatriotLight - Vought slams Fed Chair Powell over 'grossly mismanaged' luxury renovations
ThePatriotLight - In his latest crusade to rein in spending, Office of Management and Budget Director Russell Vought has set his sights on the Federal Reserve. Vought called out Chairman Jerome Powell for greenlighting luxury renovations to the Fed's Washington, D.C., headquarters that exceeded the original budget by roughly $700 million, totaling roughly $2.5 billion. The renovations include a rooftop terrace with gardens, VIP dining rooms and …
White House slams Powell for 'grossly mismanaged' Fed
The White House on Thursday (Jul 10) launched a fresh attack on Federal Reserve Chair Jerome Powell, with a top Trump administration official saying Powell had "grossly mismanaged" the central bank, chastising him for running a deficit and for extensive cost overruns for building renovations.
La Casa Blanca adopta su postura más agresiva hasta ahora contra Jerome Powell
Por Samantha Delouya, CNN La campaña cada vez más intensa del Gobierno de Trump contra el presidente de la Reserva Federal, Jerome Powell, llegó a un punto crítico este jueves. Apenas dos semanas después de que el presidente Donald Trump enviara una carta manuscrita a Powell exigiendo una reducción de las tasas de interés, Russell Vought, director de la Oficina de Administración y Presupuesto (OMB, por sus siglas en inglés) de Trump, acusó a Pow…
Trump official criticizes Fed chief Jerome Powell for "ostentatious" office renovations, as Trump takes aim over interest rates
A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.
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