More
    HomeWorldNow, central bank chief targeted for ‘ostentatious’ Fed renovation costs - Times...

    Now, central bank chief targeted for ‘ostentatious’ Fed renovation costs – Times of India

    Published on

    spot_img


    File photo: Federal Reserve Chair Jerome Powell (Picture credit: AP)

    WASHINGTON: US President Trump has the authority to fire Federal Reserve chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said Sunday, adding the Fed “has a lot to answer for” on renovation cost overruns at its Washington headquarters. Hassett said any decision by Trump to try to fire Powell over what the administration calls a $700 million cost overrun “is going to depend a lot on the answers that we get to the questions that Russ Vought sent to the Fed”. Vought, White House budget director, last week slammed Powell over an “ostentatious overhaul” of the Fed’s buildings and answers to a series of questions about the $2.5 billion project. In a post, he compared the project to France’s Palace of Versailles, with rooftop gardens, and “premium marble”. Trump has repeatedly called for Powell’s resignation for failing to lower interest rates since he returned to office in January. REUTERS





    Source link

    Latest articles

    Chief Justice BR Gavai’s nephew, 13 judges take oath at Bombay High Court

    Chief Justice of India BR Gavai's nephew Raj Wakode and 13 other judges...

    Charles Porch and Robert Denning’s Wedding Weekend in Paris Was a Celebration of Art and History

    “Charles is half French,” Robert notes. “And both he and I have childhood...

    Trump dismisses health rumors as ‘fake news,’ but ‘two-tone hands’ and late arrival re-spark Oval Office gossip – The Times of India

    Donald Trump’s big Oval Office announcement on Wednesday was supposed to...

    Sombr’s ‘Undressed’ Becomes the First New No. 1 Hit on Hot Rock & Alternative Songs in 2025

    Sombr‘s “Undressed” ascends to No. 1 on Billboard’s Hot Rock & Alternative Songs...

    More like this

    Chief Justice BR Gavai’s nephew, 13 judges take oath at Bombay High Court

    Chief Justice of India BR Gavai's nephew Raj Wakode and 13 other judges...

    Charles Porch and Robert Denning’s Wedding Weekend in Paris Was a Celebration of Art and History

    “Charles is half French,” Robert notes. “And both he and I have childhood...

    Trump dismisses health rumors as ‘fake news,’ but ‘two-tone hands’ and late arrival re-spark Oval Office gossip – The Times of India

    Donald Trump’s big Oval Office announcement on Wednesday was supposed to...