The Trump administration is demanding access to the ongoing renovation project at the Federal Reserve’s headquarters as part of its ongoing campaign against the central bank’s chairman, Jerome Powell.
The New York Times reports Russell T. Vought, the director of the White House’s Office of Management and Budget (OMB), said he wants to tour the Fed’s headquarters with other members of the administration and Republican lawmakers including Federal Housing Finance Agency Director Bill Pulte, who has called Powell a “moron” on X and has repeatedly demanded his resignation.
The Trump administration has been using reports of cost overruns at the headquarters to build a case to potentially fire Powell – the Supreme Court has ruled a president cannot fire a Fed chairman at will, and the president has sent mixed signals on whether he wants to dismiss the central bank chief.
“I think the president was pretty clear yesterday – he’s unlikely to fire the chairman, but he has substantial concerns with regard to how he’s managed the Fed,” Vought reporters earlier today, adding he was “trying to get a site visit and go over there.”
Vought said he was working with the National Capital Planning Commission, which is responsible for reviewing the Fed’s renovation plan. The White House has also sent questions to Powell on the renovations. However, the Fed is an independent agency that is not part of the Executive Branch and Powell is not required by law to cooperate with Vought’s requests.
