Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

The Supreme Court said in May that it could block any attempts by the White House to dismiss Powell, noting as part of a separate ruling that the Fed “is a uniquely structured, quasi-private entity.”...

Office of Management and Budget Director Russell Vought accused Federal Reserve Chair Jerome Powell on Thursday of an “ostentatious” overhaul of the independent agency’s fiscal headquarters amid an in...

“The Fed has been mismanaged,” Vought told reporters at the White House on Friday, calling the building renovations “horrifying from a cost perspective.”