Story perspectives
Trump Administration Intensifies Pressure on Fed Chair Powell
7/13/2025
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Story summary
- The Trump administration escalates its criticism of Federal Reserve Chair Jerome Powell regarding a $2.5 billion renovation project.
- National Economic Council Director Kevin Hassett reviews the president's authority to dismiss Powell.
- Office of Management and Budget Director Russell Vought seeks clarification on the renovation's budget and plans.
- Powell asserts he will not resign amid the administration's mounting pressure.
