Federal Reserve Chair Jerome Powell responded in a July 17 letter to a senior Trump administration official who last week accused the leader of the nation’s central bank of mismanaging its $2.5 billion Washington headquarters renovation project.
On July 10, Office of Management and Budget (OMB) Director Russell Vought penned a letter to Powell and posted it to X, criticizing the Fed chair for overseeing what he called an “ostentatious overhaul” of the Federal Reserve’s Washington headquarters, which includes the historic marble Marriner S. Eccles Building on the National Mall.
He suggested that Powell may have broken the law by not complying with government oversight regulations related to the facility’s ongoing $2.5 billion renovation....
