💨 Abstract

White House budget director Russell Vought has accused Federal Reserve Chair Jerome Powell of violating government building rules in the renovation of the Fed’s headquarters, describing the plans as "ostentatious." Vought claimed Powell misled Congress about past renovations. This criticism comes amid a broader campaign by the Trump administration to pressure Powell into resigning early. Powell has resisted calls to lower interest rates until the impact of Trump's import tax hikes is clear.

Courtesy: WTOP Staff