Federal Reserve Chairman Jerome Powell sent a letter to the White House concerning the $2.5 billion renovations to the bank’s headquarters after a top official said the building was undergoing an “ostentatious overhaul.”
Russell Vought, director of the Office of Management and Budget, posted a letter to social media last week that openly questioned Powell’s leadership and whether he mismanaged the central bank’s headquarters budget. Vought previously accused Powell of including lavish features in the bank’s new HQ.
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