U.S. President Donald Trump might seek to fire Federal Reserve Chair Jerome Powell over alleged $700 million cost overruns on Fed's headquarters renovation. Trump's administration demands answers while Powell defends the project's necessity for safety and consolidation.

Fed Chair Jerome Powell faces growing criticism after the Federal Reserve's HQ renovation costs surged from $1.9B to $2.5B. Trump allies accuse him of mismanagement, sparking speculation about his early resignation,

A senior Trump administration official said Friday that Fed Chair Jerome Powell is “considering resigning” as pressure grows for an investigation into whether he lied to Congress about the central bank’s “Palace of Versailles” renovations to its headquarters in Washington, DC.

The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday.

President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.

Speaking to reporters earlier this week, Trump argued that interest rates should be three points lower, blaming Jerome Powell for costing the country significant money and holding back the US from being the world’s top economic performer.