A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the latest flashpoint in the ongoing feud between President Trump and Fed Chair Jerome Powell.
Trump administration officials and Republican lawmakers have accused Powell of mismanaging the costly project and have referred him to the Department of Justice for potential perjury charges. The White House is using the renovation's price tag to intensify pressure on Powell, with some officials visiting the Fed to scrutinize the project. In response, Powell has defended the renovation as necessary modernization and has asked the Fed's inspector general to review the costs.
The controversy is widely seen as part of a broader effort by Trump allies to undermine Powell's leadership and potentially justify his removal.
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