White House escalates war on Powell with inquiry into $700M overrun on Fed HQ

Published



Office of Management and Budget Director Russ Vought ratcheted up pressure on Federal Reserve Chairman Jerome Powell on Thursday, accusing him of having “grossly mismanaged” the central bank.

Vought sent a letter to Powell probing him with questions over the renovation of the Fed’s headquarters in Washington, D.C. The letter said that President Donald Trump is “extremely troubled” by his management of the Fed and called the overhaul of the headquarters “ostentatious.”

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