Trump Official Accuses Fed Chair of Mismanagement, Deception
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Trump's budget chief, Russell Vought, accused Federal Reserve Chairman Jerome Powell of mismanaging the Fed and misleading Congress about a costly headquarters renovation. Vought criticized the $2.5 billion renovation, exceeding the initial budget by $700 million, and questioned its compliance with the National Capital Planning Act. He highlighted discrepancies between Powell's testimony denying lavish features and the actual plans, which included VIP dining rooms and rooftop gardens. The incident escalates Trump's ongoing conflict with Powell over interest rate cuts and potentially his removal from office.
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