A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the center of a heated political battle between the Trump administration and Fed Chair Jerome Powell.
Trump allies, including Rep. Anna Paulina Luna, have referred Powell to the Department of Justice for alleged perjury, using the renovation's ballooning costs and alleged mismanagement as grounds for investigation. The White House has intensified scrutiny, with officials planning inspections and publicly criticizing the project's expenses. Powell has defended the renovation as necessary modernization and has requested the Fed's inspector general to review the costs in response to mounting pressure.
The controversy is widely seen as part of a broader effort by Trump and his allies to oust Powell and influence Federal Reserve policy.
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