A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the latest flashpoint in a growing conflict between the Trump administration and Fed Chair Jerome Powell.
Trump allies have seized on the project's rising costs, accusing Powell of mismanagement and even referring him to the Department of Justice for potential perjury charges. The White House has intensified scrutiny, sending officials to inspect the renovation and publicly questioning the necessity and expense of the upgrades. In response, Powell has defended the project, citing the need to modernize historic buildings and has requested an inspector general review to address concerns.
The controversy is widely seen as part of a broader effort by Trump and his allies to pressure or potentially remove Powell from his position.
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