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's appointees urged the use of marble in a Federal Reserve renovation to increase transparency, clashing with central bank values. Trump criticizes Fed Chair Powell for cost overruns, possibly signaling mismanagement.

Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project. “We take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people,

The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,