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,

Russell T. Vought, the head of the Office of Management and Budget, said he and other administration officials wanted access to the Fed’s building in Washington.