A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the latest flashpoint in the Trump administration's ongoing battle with Fed Chair Jerome Powell.
Trump allies have seized on the project's ballooning costs, using them as grounds to question Powell's leadership and even refer him to the Department of Justice for potential perjury charges. The White House has intensified scrutiny, with officials planning tours and demanding oversight, while Powell has defended the renovation as necessary modernization and requested an inspector general review. The controversy is widely seen as a pretext for political pressure on Powell, whose resistance to Trump’s economic policies has long been a source of tension.
The dispute highlights deepening partisan divides over the central bank's independence and fiscal management.
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