On July 14th, local time,
It was learned that amidst heightened criticism from Trump administration officials regarding the Federal Reserve’s operations, Federal Reserve Chairman Jerome Powell has requested the Bank of America’s Comptroller to review the costs associated with the renovation project at the Fed headquarters building.
An insider revealed that this request was made to the Bank of America’s Comptroller Michael Thornburg on the weekend.
△Fed Chairman Jerome Powell (Archive Photo)
Previously, the White House Office of Management and Budget Director, Walter, had written to Powell last week, expressing “extreme concern” over the cost overruns on the $2.5 billion project. The Fed described in its materials posted on its website the challenges faced in conducting a comprehensive restoration of the Marina Elks Building and its adjacent properties.
On the 13th, President Trump once again expressed his desire for Powell to resign. He stated that if Powell were to step down, it would be a great thing. Since the beginning of the year, Trump has repeatedly criticized Powell and threatened to fire him from his position as the Fed Chairman, pressuring the Fed to cut interest rates. (Cao Jian)
Trump Reiterates Powell’s Resignation: White House Advisor: President Has the Right to Fire Him