White House Tensions Rise as Trump Eyes Powell Over Fed Spending
President Trump hinted that Fed Chair Jerome Powell could be fired over ballooning costs tied to the Federal Reserve’s headquarters renovation project.
The $2.5 billion price tag has drawn scrutiny from the Trump administration, which has long wanted to replace Powell with someone more amenable to aggressive rate cuts.
The Fed has asked its inspector general to investigate the matter, and Powell’s answers to the administration’s questions are expected by week’s end.
