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 and Fed Chair Jerome Powell.
Trump allies in Congress, led by Rep. Anna Paulina Luna, have referred Powell to the Department of Justice for alleged perjury, using the renovation's ballooning costs as a pretext for potential removal. The White House has intensified scrutiny, sending officials to inspect the project and publicly questioning its management. 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 and his allies to pressure Powell and influence Federal Reserve policy.
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