Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Home Local news White House Budget Director Claims Fed Chair Broke Renovation Rules
  • Local news

White House Budget Director Claims Fed Chair Broke Renovation Rules

    White House budget director accuses Fed chair of violating building rules in renovation
    Up next
    India’s options market faces a reality check
    India’s Options Market Encounters a Wake-Up Call
    Published on 10 July 2025
    Author
    Internewscast
    Tags
    • accuses,
    • Budget,
    • building,
    • Business,
    • Chair,
    • Director,
    • Donald Trump,
    • fed,
    • House,
    • Jerome Powell,
    • Politics,
    • Renovation,
    • rules,
    • Russell Vought,
    • violating,
    • Washington news,
    • white
    Share this @internewscast.com
    FacebookXRedditPinterest

    WASHINGTON – In a letter sent on Thursday, White House budget director Russell Vought accused Federal Reserve Chair Jerome Powell of breaching government building regulations during the refurbishment of the Fed’s headquarters.

    Vought shared the letter on social media, describing the renovation plans, which include rooftop gardens, VIP dining areas, and high-quality marble, as an “extravagant makeover.” He also claimed that Powell gave misleading information to Congress by stating the headquarters had not undergone any major renovations, pointing out that updates made between 1999 and 2003 to the roof and building systems should be considered a “thorough” renovation.

    This seems to be part of a broader effort by the Trump administration to apply pressure on the Fed chair to resign before his term concludes in May 2026. Powell has refused to lower interest rates until the U.S. central bank fully assesses the potential inflation effects of President Donald Trump’s tariff increases.

    Fed officials did not respond to an email seeking a response to the White House letter. Powell said in Senate testimony last month that some of the elements in the 2021 plan such as the dining rooms and rooftop terraces are no longer part of the project for the 90-year-old Marriner S. Eccles Building.

    The Supreme Court said in May that it could block any attempts by the White House to dismiss Powell, noting as part of a separate ruling that the Fed “is a uniquely structured, quasi-private entity.”

    Trump said at Tuesday’s Cabinet meeting that Powell “should resign immediately” and be replaced by someone who would lower rates, as the U.S. president believes that high inflation is no longer a risk to the U.S. economy.

    As Trump sees it, a rate cut would reduce the costs of government borrowing in ways that make mortgages, auto loans and other forms of consumer debt cheaper. But a rate cut could also lead to more money flowing into the economy and push up inflation, worsening affordability as the financial markets ultimately determine the interest charged on the national debt.

    In Thursday’s letter, Vought sent Powell a series of questions about whether the renovation project complies with federal standards. Vought said that Powell’s testimony about changes to the 2021 plan “appears to reveal” that the renovation is not in compliance with the National Planning Capital Act.

    The Fed sees political independence as an essential value for setting monetary policy, allowing it to act without the interests of elections and focus instead on its dual mandate of stabilizing prices and maximizing employment.

    Trump has repeatedly berated Powell on his social media site Truth Social, nicknaming the Fed chair “Too Late.” On June 30, Trump sent Powell a handwritten note saying that his decision to hold rates steady had “cost the USA a fortune” in the form of higher servicing costs on the national debt.

    The risk of prematurely lowering rates is that higher inflation could be ignited. The Fed’s preferred measure of inflation, the personal consumption expenditures price index, is at 2.3%, slightly higher than the Fed’s 2% target.

    Inflation has fallen after spiking to a four-decade high in June 2022, but the uncertainty on the size and impact of Trump’s tariffs and how they flow through the U.S. economy has caused the Fed to pause after multiple rate cuts last year.

    Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

    Share this @internewscast.com
    FacebookXRedditPinterest
    You May Also Like
    Kerrville didn’t have weather sirens used by other cities
    • Local news

    Kerrville Lacks Weather Sirens Found in Other Cities

    AUSTIN (KXAN) – At a Friday news conference, Kerr County Judge Rob…
    • Internewscast
    • July 11, 2025
    Far-right extremist group threatens to take weather radars offline
    • Local news

    Extremist Far-Right Group Plans to Disable Weather Radars

    OKLAHOMA CITY (KFOR) — A weather radar belonging to an Oklahoma City…
    • Internewscast
    • July 10, 2025
    DOJ: Kingsport man claimed million in false tax returns
    • Local news

    DOJ: Kingsport Man Allegedly Filed for Millions in Fraudulent Tax Returns

    KINGSPORT, Tenn. (WJHL) — A Kingsport resident admitted guilt on Wednesday to…
    • Internewscast
    • July 11, 2025
    Augusta locals express worries at Charter Review Committee meeting
    • Local news

    Augusta Residents Voice Concerns at Charter Review Meeting

    AUGUSTA, Ga () – The Charter Review Committee is in the process…
    • Internewscast
    • July 11, 2025
    Good Samaritan saves baby abandoned after Chicago carjacking
    • Local news

    Chicago Carjacking: Good Samaritan Rescues Abandoned Baby

    CHICAGO (WGN) Last Thursday, Earl Abernathy was stuck in traffic in Chicago…
    • Internewscast
    • July 10, 2025
    Tear gas deployed during protest at immigration raid in Ventura County
    • Local news

    Tear Gas Used at Protest Against Immigration Raid in Ventura County

    Editor’s note: affiliate KTLA reached out to the U.S. Department of Homeland…
    • Internewscast
    • July 11, 2025
    Bryan Kohberger guilty plea supported by victim's family
    • Local news

    “New Documentary Explores Why Four College Students Were Targeted in Idaho Murders”

    () A surprise guilty plea prevented the public from learning more about…
    • Internewscast
    • July 11, 2025
    Gamers speak out on Polk County ‘swatting’ calls: 'There's no reason to do all that'
    • Local news

    Polk County Gamers Condemn ‘Swatting’ Incidents: ‘It’s Completely Unnecessary’

    POLK COUNTY, Fla. (WFLA) — A video game is leading to real-world…
    • Internewscast
    • July 11, 2025
    A Denver dino museum makes a find deep under own parking lot. Like 'a hole in one from the moon.'
    • Local news

    Denver Dinosaur Museum Discovers Major Fossil Find Beneath Its Own Parking Lot – ‘A Moonshot Discovery.’

    DENVER – A museum in Denver, renowned for its dinosaur exhibits, has…
    • Internewscast
    • July 10, 2025
    Photo provided by Chicago police shows 13-year-old Elianny Garcia-Gonzalez, who officers say has been missing since June 27, 2025.
    • Local news

    Teenager missing for almost two weeks was last spotted in Chicago

    CHICAGO A search continues this week for a teen girl who Chicago…
    • Internewscast
    • July 10, 2025
    Rubio to meet China's foreign minister in Malaysia as US-Chinese tensions mount
    • Local news

    Rubio Set to Meet China’s Foreign Minister in Malaysia Amid Escalating US-China Tensions

    KUALA LUMPUR – U.S. Secretary of State Marco Rubio is concluding his…
    • Internewscast
    • July 11, 2025
    Satellite images show before and after deadly Texas flooding
    • Local news

    Dramatic Transformation Revealed in Satellite Images of Texas Flooding

    () As recovery efforts in central Texas continued Wednesday in the aftermath…
    • Internewscast
    • July 11, 2025
    Second Australian city becomes million-dollar housing market
    • AU

    Another Major Australian City Enters the Million-Dollar Housing Club

    Brisbane is now part of Australia’s million-dollar property markets, with median…
    • Internewscast
    • July 11, 2025
    Judge blocks Trump order on birthright citizenship
    • Local news

    Court Halts Trump’s Directive to End Birthright Citizenship

    () A federal judge in New Hampshire has issued a temporary injunction…
    • Internewscast
    • July 11, 2025
    Armed men in black tactical gear aboard a ship.
    • US

    Houthis Stage a Fearsome Comeback in the Red Sea, Contradicting Trump’s Claim They ‘Don’t Want to Fight’

    THE Houthis have mounted a terrifying return to scourge the Red Sea…
    • Internewscast
    • July 11, 2025
    Native Hawaiian man could face longer prison sentence after conviction for hate crime against white man
    • US

    Hawaiian Man May Receive Extended Sentence for Hate Crime Conviction Against White Man

    A Native Hawaiian man who had been found guilty of a hate…
    • Internewscast
    • July 11, 2025
    Internewscast Journal
    • Home
    • Privacy Policy
    • DMCA Notice
    • Terms and Conditions
    • Guest Post
    • Support Our Cause
    Copyright 2023. All Right Reserverd.