A top White House official launched a new broadside against Federal Reserve Chair Jerome Powell Thursday, accusing him of breaking the law while overseeing a $2.5 billion renovation of the central bank’s headquarters.
It’s the latest and most serious accusation leveled by Donald Trump and his top aides against Powell, who has irked the president by failing to heed his calls to lower interest rates.
Director of the Office of Management and Budget Russ Vought sent a letter to Powell on Thursday accusing him of “an ostentatious overhaul” of the Federal Reserve’s D.C. headquarters, which he said was at least $700 million over budget.