A group of White House officials will visit the Federal Reserve on Thursday in the midst of the increasing criticism of the Chairman of Jerome Powell for renovations to the central bank headquarters.
James Blair, Deputy Chief of Staff for President Trump, posted on the X Social Media Platform, assisted by Trump, will visit after punishing The Fed to release a virtual video tour.
Trump for months condemned Powell and complained that the Fed had not reduced interest rates, steps associated with the central bank with uncertainty created by the presidential tariff policy.
Top White House officials have focused their attention on the $ 2.5 billion renovation from the Washington Federal Reserve office. Powell has asked the Inspector General of the Central Bank to review the renovation, and The Fed has posted an explanation to its website that detailed why the project faced an increase in costs.
The Head of the Blair Budget and the White House Russ Vought has led the accusation to focus on renovation, and the President last week suggested swelling of costs to be a violation that could be fired for Powell. Since then he resigned and indicated that he did not intend to fire the chairman before his term of office ended next May.
Minister of Finance Scott Besent on Tuesday told reporters at the oval office that he had asked Fed to complete a broader internal review of his mission.
“I called yesterday and this morning to Fed conduct a big internal investigation not to understand their monetary policy but others,” Besent said. “That it has a big mission of creep. That’s where there are many expenses, that’s why they build this new, or renew these buildings. And I think they must remain on their path.”
