White House officials pressure Federal Reserve Chairman Powell, accusing him of gross mismanagement

A key official in the Trump administration said that Federal Reserve Chairman Powell has seriously mismanaged the agency and demanded more information about the renovation of the Fed's Washington headquarters. "The President is deeply disturbed by your management of the Federal Reserve System," US Office of Management and Budget Director Vought wrote in a letter to Powell. "Instead of trying to correct the Fed's financial situation, you are making a big splash with the renovation of your Washington headquarters." The letter continues the tone of Trump, senior government officials, and some congressional Republicans, putting more scrutiny on Powell as the Fed faces widespread pressure to cut interest rates. [Odaily Planet Daily]