A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

President Trump is putting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, and has been critical of the Fed’s $2.5 billion office renovation.

The White House on Thursday launched a fresh attack on Federal Reserve Chair Jerome Powell, with a top Trump administration official saying Powell had "grossly mismanaged" the central bank, chastising him for running a deficit and for extensive cost overruns for building renovations.

Mises Institute Senior Fellow Bob Murphy debates David Beckworth of the Mercatus Center tonight at 7pm ET, moderated by George Gammon.

The Eccles Building controversy is fast becoming a political flashpoint. Powell is facing pressure from multiple sides, Trump is urging interest rate cuts, lawmakers are demanding transparency, and watchdogs are warning of a breach of public trust.

It’s not that Jerome Powell has no controversies to deal with. President Donald Trump has repeatedly called Powell a “numskull,” demanding that he cut interest rates to boost the economy.

Fed Chair Powell says Trump tariffs delayed interest rate cuts 02:58. Federal Reserve Chair Jerome Powell said Tuesday that the U.S. central bank has held off on lowering interest rates this year ...

The White House accuses the Fed chair of potentially "violating the law" in his renovation of the central bank's Washington, D.C., headquarters.