‘Huge deal’: White House probe fuels speculation Trump could oust Powell
By Sam Sutton
President Donald Trump swore that he wouldn’t attempt to fire Federal Reserve Chair Jerome Powell before his term expires next spring. A new White House investigation of cost overruns at the Fed’s headquarters has reignited speculation that he just might try. White House Budget Director Russ Vought’s probe into a yearslong, $2.5 billion renovation of the central bank’s Washington offices represents a serious escalation in the administration’s offensive against Powell. Trump and other top officials have blasted the Fed chair repeatedly over his refusal to cut interest rates. …. “They appear to be trying to build a strong case for mismanagement and the violation of certain federal rules,” said Karen Petrou, the managing partner of Federal Financial Analytics. “All of the accusations on monetary policy are irrelevant to this. It is a straightforward administrative action.” The Supreme Court has signaled that the president can’t summarily dismiss central bankers. But the White House’s investigation into Powell’s oversight of agency finances — rather than his monetary policy decisions…