According to Jinshi Data, a key official in the Trump administration criticized Federal Reserve Chairman Powell for serious mismanagement of the institution and requested more information about the renovations at the Federal Reserve's Washington headquarters.
The Director of the Office of Management and Budget, Vought, expressed in a letter to Powell that the President is deeply concerned about the management of the Federal Reserve System, accusing Powell of failing to address the Federal Reserve's financial situation while making a big show of renovating the Washington headquarters.
This letter continues the tone set by Trump, senior government officials, and some Congressional Republicans to impose greater scrutiny on Powell. Currently, the Federal Reserve is facing widespread pressure to cut interest rates.