OMB: Powell’s Fed Renovations May Have Violated Law

The Office of Management and Budget has sent a letter to Federal Reserve Chair Jerome Powell on Thursday accusing him of having “grossly mismanaged the Fed,” following testimony regarding the central bank’s office headquarters.

“Jerome Powell, AKA ‘TOO LATE,’ is spending billion renovating the Fed’s HQ. In his recent testimony, he slipped up and revealed he might also be violating the law. The Trump Administration is demanding answers, and we’re going to hold him accountable,” the OMB posted on X.

The Trump administration has been at odds with Powell for months over his failure to lower interest rates. President Donald Trump upped the personal attacks this week calling Powell “terrible” and “a very average mentally person.” Trump added, “I think he’s a very stupid person actually.”