Managing power consumption of multiple computing node clusters of a computing rack system is described. An example system may include a plurality of computing node clusters each comprising a respective plurality of computing nodes, and a power management system. The power management system is configured to determine respective power budget rules associated with each of the plurality of computing node clusters based on a maximum power consumption limit, and to provide the respective power budget rules to an associated one of the plurality of computing node clusters. The power management system is further configured to receive respective power consumption data from each of the plurality of computing node clusters and to adjust the respective power budget rules associated with at least one of the plurality of computing node clusters based on the respective power consumption data associated with each of the plurality of computing node clusters.