Federal Reserve Chairman Jerome Powell will testify before a Senate Committee on Banking, Housing and Urban Affairs at Capitol Hill, Washington on June 25, 2025. Kent Nishimura/Getty Images
Federal Reserve Chairman Jerome Powell responded in a July 17 letter to Trump administration officials, denounced the central bank leader last week for mismanaging $2.5 billion in renovation projects at its Washington headquarters.
On July 10, Russell Vought, director of the Management and Budget Office (OMB), wrote to Powell to post it on X, criticizing the Fed Chairman for overseeing the “exaggerated overhaul” of the Federal Reserve headquarters, including the historic Marble Mariner S. Eckles building of Washington Mariner S. Eckles, including the Federal Reserve Mariner S. Eckles building.
