President Donald Trump’s budget chief said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed.” Office of Management and Budget Director Russell Vought also suggested Powell had misled Congress about a pricey renovation of the central bank’s headquarters. Vought’s broadside opens up a new front in the Trump administration’s war on the Fed chief. Federal Reserve Board Chairman Jerome Powell holds a news conference following a Federal Open Market Committee meeting on June 18, 2025 in Washington, DC. Win Mcnamee | Getty Images
President Donald Trump‘s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters.
The broadside by Office of Management and Budget Director Russell Vought opened up a new