A $2.5 billion renovation of the Federal Reserve's headquarters has become the latest flashpoint in the ongoing conflict between President Trump and Fed Chair Jerome Powell.
Trump administration officials and Republican allies are using the project's ballooning costs to accuse Powell of mismanagement and even perjury, with some calling for criminal investigations and his removal. The White House has intensified scrutiny, planning inspections and demanding accountability, while Powell has defended the renovation as necessary modernization and requested an independent review by the Fed's inspector general. The controversy is widely seen as a political maneuver to pressure Powell amid disagreements over monetary policy.
The dispute highlights deepening tensions over the Fed's independence and the politicization of central bank operations.
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