Trump Budget Chief Vought Ramps up Criticism of Powell, Vows Investigation Into Fed Renovations
WASHINGTON, D.C., JUL 11 – Russell Vought accuses Federal Reserve Chair Jerome Powell of misleading Congress and oversees a $2.5 billion renovation with a $700 million cost overrun, prompting a formal investigation.
10 Articles
10 Articles
Trump admin presses Powell over Fed's costly headquarters renovation project
A Trump administration official is demanding answers from Federal Reserve Chair Jerome Powell over the central bank's renovations project amid the president's pressure on the Fed chair to cut interest rates.Office of Management and Budget (OMB) Director Russell Vought sent a letter to Powell on Thursday saying that President Donald Trump is "extremely troubled by your management of the Federal Reserve System."Vought wrote that the Fed has "plowe…
Powell ‘May Resign’ Over $2.5B HQ, Trump Demands 1.25% Rate
TL;DR Powell under pressure as $2.5B Fed HQ project faces criticism from lawmakers and agency officials. Trump demands Fed slash rates to 1.25%. William Pulte says Powell stepping down would be “right decision” as Fed meeting approaches July 29. Powell Faces Pressure Amid HQ Spending Backlash Federal Reserve Chair Jerome Powell is facing new pressure amid reports he is considering stepping down. A senior government official said that “high-leve…
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