The Federal Reserve has been under fire over comprehensive renovations of the U.S. central bank’s headquarters in Washington.
President Donald Trump, senior administration officials, and scores of Republican lawmakers have criticized the Fed for overspending on the Marriner S. Eccles Building on the National Mall and 1951 Constitution Avenue.
“Chairman Jerome Powell has grossly mismanaged the Fed,” Russ Vought, director of the Office of Management and Budget, said in a July 10 statement posted to X.
“The President is extremely troubled by your management of the Federal Reserve System,” Vought wrote in a July 10 letter to Fed Chair Jerome Powell.
“Instead of attempting to right the Fed’s fiscal ship, you have plowed ahead with an ostentatious overhaul of your Washington D.C. headquarters.”…
The Fed’s $2.5 Billion Renovations, Political Fallout—What to Know
