Powell defends .5 billion Fed renovation in a point-by-point response to the Trump administration
Federal Reserve Chair Jerome Powell responded by letter Thursday to a senior Trump administration official who accused the head of the central bank of mismanaging an “ostentatious overhaul” of its Washington, DC, headquarters. The decision, which was widely expected, left the Federal Reserve’s key lending rate between 4.25% and 4.5%, where it has stood…