Federal Reserve Chair Jerome Powell has asked the central bank’s inspector general to conduct an additional review of an ongoing $2.5 billion renovation of the institution’s headquarters that has drawn fire from President Donald Trump and others,

Federal Reserve Chair Jerome Powell is asking an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.".

President Trump on Tuesday suggested cost overruns in the Federal Reserve's headquarters renovation could be a fireable offense for Fed chair Jerome Powell. Why it matters: The president and his administration want to be rid of Powell so they can install a chair who will follow Trump's dictate to lower interest rates.