Trump attacks on Powell exceeding $ 2.5 billion, the Federal Reserve Renewal depends on “dining rooms for VIP” and procedural causes with a mysterious government agency

After years of Powell’s public criticism, in a challenge for decades from a previous precedent, President Donald Trump is now escalating from his jaw attacks due to interest rates to this type of Washington’s Malls of Washington, which predicted a face collision. The latest attacks against Powell depend on the allegations, which were conducted in the past few days, that it has controlled Renewal From the Marriner S. Eccles building in the federal reserve.

The current construction costs are $ 2.5 billion, or approximately $ 700 million than allocating it at first, according to the last Federal Reserve Bank budget.

It seems that criticism of renewal plans is the beginning of an attempt to sue the issue in which Powell should be removed from his role in the cause. The allegations of Trump administration officials come in two models: First claim that federal reserve renewal plans exceed the budget, thus indicating mismanagement. The second complaint from the White House is some of the reviews that were made on The original 2021 planThe Federal Reserve says it has done this to reduce costs, differs from the pre -determined renewal plans by the National Capital Planning Committee, which may destroy government rules.

It is important to this PINCER political maneuver, the government agency responsible for urban planning in Washington, DC, and Saled Fair, Director of the Administration and Budget Office (OMB). On Thursday, Powell sent a message explaining in detail his concerns about the excesses of the cost of the renewal project. Vough’s letter included a set of questions that focused on some of the most obvious elements of the project, including a private dining room and a surface garden.

A day later, a new federal reserve was published mail On the frequent questions part of its location. She said that the increase in the cost stems from the high prices of competition for employment and materials, frequent reviews of government agencies, and unexpected events such as finding more asbestos than expected in the building.

On Monday, Powell instructed the Inspector General Michael Horwitz to review the renewal project, according to Intuition.

Renewal fears come at a time of escalating tensions between the White House and the Federal Reserve above the central bank stopping the interest rate discounts. Since his return to office, Trump has shared his view of monetary policy over and over again, although the Federal Reserve would be free of political intervention. White House spokesman Kush Desai said that Trump could pay for low rates and “ensuring that taxpayers are not wasted” with renewal. When accessed for comment, the Federal Reserve is directed luck To its website.

In addition to the costs of millions of dollars and budget transgressions, part of the White House issue depends on allegations that the Federal Reserve did not follow the procedural rules that would have required approval from NCPC to make changes to its plans. In his message to the Federal Reserve, he was martyred as a Powell Certificate in the Senate, in which he said that there would be no “new dining rooms” or “new water features” and “new marble” as part of the renewal of the Eccles building.

From Fion’s point of view, that certificate was a problem. If these features were already included in the project, when Powell said she had not misled Congress. If the features mentioned in the original renewal plans of the ECCLES building are no longer guaranteed, Powell may have violated the rules that require agencies to allow changes to architectural designs with NCPC.

A lot of disagreement will depend on the definition of individuals to the term “new”. For example, there is a special dining area on the fourth floor of the building, which is scheduled to be reshaped, according to the plans. However, a “new” dining room is not built. The same applies to an elevator that leads the guests to the special food area. The scope of parts of the original plan, such as water features and a garden design, or completely eliminated, are expanded, according to Reserve Fervense. However, these modifications have not risen to the level of “major changes” on plans that call for a review from NCPC. The Federal Reserve also said that he did not consider itself “directed” from NCPC for its construction projects.

During his testimony in the Senate, Powell had assumed a problem with the descriptions of re -design efforts.

“Media reports are misleading and in many ways,” said Powell. “All the inflammatory things that the media carry are not either in the current plan or only inaccurate.”

He leads a lot of general criticism of renewal, Kevin Haysit, director of the National Economic Council. In an interview on Friday, I described the Vogue The Project as “brutal”. A day later, Hasit said the president had the power to launch Powell for the case.

Each of the Trump administration’s senior consultants agree with the president’s allegations that interest rates should be less and that Powell is only responsible for their current levels. Voting at the interest rate levels are voted by the 12 -person Federal Federal Market Committee during one of their eight meetings throughout the evaluation year. For his part, Powell has always maintained that interest rates have not decreased because the United States has the luxury of waiting to know what will happen in the economy during a period of high uncertainty.

Powell Trump’s patience has incited any end since his second term began. The paradox is a lot of uncertainty in the wake of Trump’s signing policy. Powell said it is possible that interest rates Be really less The definitions were not. On Friday, Trump told the correspondents that he would not shoot Powell and the interest rates should be “three points.”

With the construction plans that were now discovered at Crossfire of DC Politics, Powell told Senators that he had realized that the Eccles building needed renewal before becoming president.

“No one in the office wants a large renewal of a historic building during his term,” Powell said. “Please a lot to leave it to your successor. This is a great example why.”