A $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters has become the latest flashpoint in a growing conflict between President Trump and Fed Chair Jerome Powell.
Trump administration officials and Republican lawmakers have seized on the project's ballooning costs to accuse Powell of mismanagement, with some even referring him to the Department of Justice for potential perjury charges. The White House has intensified scrutiny, planning inspections and demanding detailed explanations, while Powell has defended the renovation as necessary modernization and 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, whom they have criticized for not cutting interest rates.
The dispute highlights deepening tensions over the Fed's independence and the politicization of central bank operations.
.Here are the top political news stories for today.
Be the first to reply to this general discussion.
Join in on more popular conversations.
