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Trump Administration and Federal Reserve Clash Over Expensive Headquarters Renovation
White House budget director Russell Vought has emerged as a central figure in a high-stakes dispute between the Trump administration and Federal Reserve Chair Jerome Powell over an expensive renovation of the Fed’s Washington headquarters. In the past week, Vought sent a forceful letter to Jerome Powell challenging a two point five billion dollar spending plan that has triggered an escalating political clash over the management and oversight of public funds.
Vought’s concerns, which President Trump has publicly echoed, focus on reported design features such as rooftop gardens, private dining rooms, elaborate water features, and premium marble installations. Vought argued in his letter that instead of correcting the Fed’s fiscal trajectory, Powell has allowed a “lavish overhaul” that he says goes beyond what was approved by federal planning authorities. Trump described the project as a possible “fireable offense” and implied there may even be fraud involved, a claim echoed by Vought over the last several days. Both Trump and Vought have demanded an on-site inspection, with Trump appointing three advisers—one closely connected to Vought—to the local commission overseeing the renovation. When the Fed offered a Friday evening tour, the White House team requested to reschedule for the coming week, indicating their determination to scrutinize the project closely.
Jerome Powell strongly pushed back, responding in detail to Vought’s criticisms and defending the scope and necessity of the renovation. Powell insists the Fed is acting as a responsible steward of taxpayer resources and that claims about luxury amenities are inaccurate or misleading. He also stated that any changes made have been in compliance with plans approved by the National Capital Planning Commission. Meanwhile, the Commission itself has launched an inquiry into the renovation’s oversight.
This battle comes at a moment of heightened scrutiny for the Fed as the Trump administration explores potential candidates to replace Powell and weighs its options, given recent Supreme Court rulings around protections for the central bank. Vought’s public statements—again this week—indicate that the White House is likely to push for additional funding rescissions in the near term, further amplifying tension between fiscal conservatism and major public expenditures.
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Published on 5 months, 2 weeks ago