On July 14 local time, a CCTV reporter learned that as Trump administration officials intensified their criticism of the Federal Reserve's operations, Chairman Powell has requested the U.S. central bank's inspector general to review the costs associated with the renovation of the Federal Reserve's headquarters.
An informed source revealed that this request was made to Federal Reserve Inspector General Michael Horowitz over the weekend.
△Federal Reserve Chairman Jerome Powell (file photo)
Previously, White House Office of Management and Budget Director Mulvaney wrote to Powell last week, expressing deep concern over the $2.5 billion project cost overruns. The Federal Reserve described the challenges facing comprehensive renovations of the Mariner Eccles Building and its adjacent properties in materials published on its website.
On the 13th, President Trump reiterated his hope that Federal Reserve Chairman Powell would resign. He stated that if Powell were to resign, it would be a great thing. Since the beginning of this year, Trump has repeatedly criticized Powell and threatened to fire him from his position as Chairman of the Federal Reserve to pressure the Fed to cut interest rates.