A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the latest flashpoint in escalating tensions between President Trump, his allies, 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 as leverage to pressure Powell, with some officials even visiting the Fed to scrutinize the project. Powell has defended the renovation as necessary modernization and has asked the Fed's inspector general to review the costs in response to the criticism.
The controversy is widely seen as part of a broader effort by Trump and his allies to undermine Powell's leadership and potentially push for his removal.
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