Senator Warren Criticizes Trump's Fed Renovation Concerns
Senator Elizabeth Warren accuses President Trump's concern over Federal Reserve renovations as a pretext to fire Chairman Jerome Powell. The criticism comes amidst White House objections to renovation costs. Warren, the ranking Democrat on the Senate Banking Committee, voiced her concerns publicly.
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U.S. Senator Elizabeth Warren criticized President Donald Trump's purported interest in the renovations of the Federal Reserve's headquarters, calling it a 'clear pretext' to dismiss Fed Chairman Jerome Powell.
Last week, the Trump administration ramped up its scrutiny of the Federal Reserve's management when Russell Vought, the Director of the Office of Management and Budget, sent a letter to Powell. The letter expressed Trump's intense concern over the $2.5 billion cost overruns in the renovation of the historic headquarters in Washington.
Warren, the leading Democrat on the Senate Banking Committee, overseeing the Fed, argued in a social media post that the renovation concerns are a smokescreen intended to legitimize the removal of Powell from his position.
(With inputs from agencies.)
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