A new “Frequently Asked Questions” page on the Federal Reserve’s website defends the central bank’s recent renovation project — and responds to many Trump administration criticisms of it. Office of Management and Budget Director Russell Vought slammed the renovation project and said he would pursue an investigation. Chairman Jerome Powell has repeatedly resisted President Donald Trump’s criticisms and repeated attempts to pressure him to raise interest rates. U.S. Federal Reserve Chair Jerome Powell testifies before a House Financial Services Committee hearing on “The Semiannual Monetary Policy Report to the Congress,” on Capitol Hill in Washington, D.C., U.S., June 24, 2025. Kevin Lamarque | Reuters
As the Trump administration escalates its criticisms of the Federal Reserve and Chairman Jerome Powell, the central bank is quietly pushing back with a new “Frequently Asked Questions” page on its website defending the central bank’s