U.S. Office of Management and Budget Director Russell Vought said the administration’s recent criticism of the Federal Reserve’s multi-billion-dollar headquarters renovation should not be interpreted as an attempt to remove Fed Chair Jerome Powell. Speaking on CNBC on 25 July, Vought stressed that President Donald Trump considers firing Powell “very unlikely.” Vought added that the White House will monitor the central bank’s next policy meeting “very closely,” reiterating the president’s desire for lower interest rates while insisting the goal is to hold the Fed accountable rather than exert political pressure. The comments seek to calm speculation that the administration might try to replace Powell amid ongoing debates over monetary policy and spending on the Fed’s building overhaul.