White House officials pressure Fed Chairman Powell, accusing him of serious mismanagement

Odaily Planet Daily News - A key official in the Trump administration said that Federal Reserve Chairman Powell has seriously mismanaged the institution and asked for more information about the renovation of the Fed's Washington headquarters. "The President is deeply disturbed by your management of the Federal Reserve System," Vought, director of the Office of Management and Budget, wrote in a letter to Powell. "Instead of trying to correct the financial situation of the Federal Reserve, you have made a big fuss about renovating the Washington headquarters." The letter continues the tone of Trump, senior government officials and some congressional Republicans, exerting greater scrutiny on Powell at a time when the Fed is facing widespread pressure to cut interest rates.