Fed Chair Powell responds to White House questions about HQ renovation
Federal Reserve President Jerome Powell officially answered a series of pointed questions from the White House Director. Management and Budget Office About the renewal of the Fed’s Washington center.
Powell is a newly launched page On the Fed’s public website, the project is dedicated to answering questions about the budget. In addition, the OPB director Russell Vought’ın renovated buildings, such as private elevator, VIP lunch rooms, or the roof garden, such as the charges hit.
“The Board believes that it is very important to provide transparency for our decisions and to be responsible to the people.”
A week ago, Vought asked Powell about the project in a public letter and asked for a answer in seven days.
However, Vought’s letter was more than just one request for information.
As President Donald Trump is increasingly disappointed with the Federal Reserve refusing to reduce interest rates, the White House is looking for ways to pressure Powell to leave the central bank.
The July 10 letter from VoughT was the last move in the printing campaign that lasted this month.
Inside, Vought accused the President by “greatly managing the Fed badly”, and he chose the years of renewal of the years as an example of this.
He also claimed that Powell was lying to Congress in the last testimony about the status of the construction project.
“The president is extremely uncomfortable with your management of the federal reserve system. Instead of trying to correct the Fed’s financial ship, you have advanced with a showy revision of your Washington DC center.”
Powell did not respond to these criticisms in his answer, nor did he adopt the same confrontational tone.
Instead, he explained the reasons for cost excesses, pointed to the public website several times Vought Vought, and stressed that the Fed’s cooperation with an uncertain Washington Planning Board is not compulsory but voluntary.
Powell, Powell, who referred to the National Capital Planning Commission, said, “According to the building projects, we have cooperated with NCPC in general, although it is not generally subject to the direction of NCPC and we benefited from the commission in the previous stages of the project.”
Powell’s answer is not likely to satisfy the White House or Powell’s detectors at the congress.
Vought said on Thursday that he planned a site visit to the center of the Fed, which has several blocks from his office near the White House.
Later in the same day, the Republican Anna Paulina Luna from Florida said that the Ministry of Justice would open an investigation about whether Powell had witnessed the renewal to the congress in June.
