Trump Administration Scrutinizes Fed’s $2.5B Renovation Amid Powell Feud

The WHITE House is escalating its confrontation with Federal Reserve Chair Jerome Powell, dispatching officials to inspect the central bank's $2.5 billion headquarters renovation. This extraordinary move follows President Trump's unsubstantiated fraud allegations regarding the project's cost overruns.

Administration officials claim design changes have substantially increased the renovation budget. "We just want transparency," said Deputy Chief of Staff James Blair, though the inspection appears timed to pressure Powell on monetary policy. The Fed Chair maintains the project complies with all regulations.

Tensions have turned personal, with TRUMP recently denouncing his own appointee as "the worst Fed chairman in history" on social media. Senate Banking Committee members may join the inspection, signaling growing political scrutiny of Fed operations.