White House officials pressure Fed Chairman Powell, accusing him of serious mismanagement

Odaily News A key Trump administration official said Federal Reserve Chairman Jerome Powell has grossly mismanaged the institution and demanded more information about renovations to the Feds Washington headquarters. The President is deeply troubled by your stewardship of the Federal Reserve System, Office of Management and Budget Director Vought wrote in a letter to Powell. Instead of attempting to correct the financial situation of the Federal Reserve, you have proceeded with a major renovation of the Washington headquarters. The letter continued the tone of Trump, senior administration officials and some congressional Republicans in putting more scrutiny on Powell as the Fed faces broad pressure to cut interest rates.