HUD Secretary Scott Turner has come under fire for accusing Federal Reserve Chair Jerome Powell of squandering over $2.5 billion on renovating the Fed’s headquarters while the country grapples with a housing crisis marked by high mortgage rates. Turner, who leads the Department of Housing and Urban Development, argues that Powell’s spending is both extravagant and detrimental to the affordability of housing for American families. The criticism comes as the Trump administration continues to push for lower interest rates to stimulate economic growth, blaming Powell for not taking sufficient action.
Turner’s remarks are part of a broader debate over the Fed’s role in the economy, with Trump and his allies arguing that Powell is failing to act on inflation and interest rates. Trump, who appointed Powell during his first term, has recently increased his public criticism of the Fed chief, labeling him a