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⭕️ The Trump administration escalates accusations against Powell of wasting billions of dollars on renovating the Federal Reserve headquarters

🔸 President Donald Trump's budget director, Russell Voight, accused Federal Reserve Chairman Jerome Powell of "gross mismanagement" of the institution.

🔸 Voight noted that Powell misled Congress about the cost of renovating the US central bank building.

🔸 The criticism comes amid a new escalation in the dispute between Trump and Powell, as Trump has been demanding interest rate cuts to no avail.

🔸 Voight explained that the Federal Reserve has continued to record a deficit since fiscal year 2023, for the first time in its history.

🔸 He added that the cost of renovating the headquarters has risen to $2.5 billion, $700 million more than the original estimate, and includes luxury features such as rooftop gardens, water fountains, VIP elevators, and fine marble, at a cost of $1,923 per square foot.