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The Federal Reserve’s funding has come under scrutiny as the White House attacks the $2.5 billion headquarters renovation for cost overruns. That controversy was underscored on Thursday, when President Donald Trump and Fed Chairman Jerome Powell disagreed over the cost during a visit to the central bank. Trump’s allies have suggested the project could be … Read more
Powell was responding to a letter from Russel Vought, director of the White House’s Office of Management and Budget. Last week, Vought made public a letter he had sent to the Fed chairman which said the president is “extremely troubled by your management of the Federal Reserve System” particularly relating to the “ostentatious overhaul of [the … Read more
The latest spat between the Trump administration and the Federal Reserve is sounding more like a home-improvement reality TV show. But the stakes are much higher: monetary policy at the world’s most important central bank and its independence from political pressure. The argument comes as President Donald Trump continues to demand that Chairman Jerome Powell … Read more
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