Trump budget chief say Fed Chair Powell mismanages central bank
Federal Reserve Chairman Jerome Powell organized a news conference after the Federal Open Market Committee meeting on 18 June 2025 at the Washington DC.
Win McNamee | Getty Images
President Donald Trump’s budget chief on Thursday Federal reserve President Jerome Powell claimed that “the Fed was largely wrong” and claimed that the Congress misleaded the Central Bank’s headquarters about an expensive and “flashy” renovation.
Broadsis Management and Budget Office Director Russell Vought opened a new front in Trump’s War of Words against Powell.
Trump repeatedly called on the Fed president to reduce interest rates without success. It has been reported that Powell was reported to ignite Powell and more recently, Powell has previously called the president’s spare substitutes before the end of the spring.
Vought’s letter raises the question of whether Trump will at least try to eliminate Powell at least.
In a recent decision, the Supreme Court strongly suggested that the members of the Federal Reserve Board of Directors had a special protection for the expelled by a president.
In an article on the social media site X, “Fed has been giving an deficit since 23, it is over the budget in the renewal of the Fed Center.”
“Now up to $ 2.5 billion, about 700 million dollars up to $ 700 million in the starting cost.” He continued: “Cost per fit square $ 1,923-double the cost of renewing a historical federal building. Versay Palace will cost 3 billion dollars in today’s dollar!”
Vought’s tweet was attached to a letter sent by the Fed Patrom to Powell, who referred to the statement of June 25 before the Senate Banking Committee.
“Your testimony reveals serious questions about your testimony, the suitability of the project to the National Capital Planning Law, which requires the approved of projects such as FED Center renewal by the National Capital Planning Commission.”
“Plans for this project called roof terrace gardens, VIP special dining rooms and elevators, water features, premium marble and much more.”
However, Powell, in his statement, “VIP no dining room. No new marble. No special elevator. No new water feature. No bee hives and no roof terrace garden,” he wrote Vouught.
“Although small deviations from approved plans are inevitable, your statement reveals that your statement is not in line with the approved plan for the large design elements of the project.”
“This will bring the project out of NCPC’s approval and thus NCPA, and thus ask the FED to stop the construction immediately before progressing and get a new approval from the NCPC.”
The letter asked Powell to answer 11 questions about the renewal project within seven working days.
The federal reserve did not immediately respond to Vought’s request for a comment on the letter.
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