Jerome Powell, White House and Donald Trump
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Factbox-The Fed Building Renovations at the Center of Trump's Fight With Powell: Five Things to Know
(Reuters) -The spiraling cost of the Federal Reserve's years-long renovation of two historic buildings in Washington, D.C., has become the latest flashpoint in the Trump administration's escalating pressure campaign on Fed Chair Jerome Powell, whom Trump wants out of the central bank because he hasn't delivered the interest-rate cuts he wants.
As President Trump floats the idea of firing Federal Reserve Chair Jerome Powell, Yahoo Finance Senior Legal Reporter Alexis Keenan breaks down the hurdles required for the president to actually remove the central bank chair and why the law is set up this way.
Russell T. Vought, the head of the Office of Management and Budget, said he and other administration officials wanted access to the Fed’s building in Washington.
The president may try to terminate the Fed chair’s tenure early. But whether Trump has the ability to do so isn’t clear.
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