White House officials pressure Federal Reserve Chairman Powell, accusing him of serious mismanagement.

An important official of the Trump administration stated that Federal Reserve Chairman Powell has severely mishandled the management of the institution and requested more information about the renovation of the Federal Reserve's Washington headquarters. "The President is deeply concerned about your management of the Federal Reserve System," wrote OMB Director Vought in a letter to Powell, "You have not attempted to correct the financial situation of the Federal Reserve, but instead have embarked on a lavish renovation of the Washington headquarters." This letter continues the tone of Trump, senior government officials, and some congressional Republicans, who are increasing scrutiny on Powell, as the Federal Reserve currently faces widespread pressure to lower interest rates.