Federal Reserve Chair Jerome Powell has reportedly asked the central bank’s inspector general to review its $2.5 billion headquarters renovation, a project that has become a key focus of escalating attacks from the Trump administration.
A source familiar with the matter told Axios that Powell directed Inspector General Michael Horowitz to examine the project’s costs and any other related matters Horowitz deems appropriate.
The Trump administration has zeroed in on the lavish renovation project — and accusations that Powell lied to a Senate committee about the fancy amenities that are being planned — as part of a broader campaign to pressure Powell, who has consistently rebuffed President Donald Trump’s demands to cut interest rates.
Powell, who was appointed by Trump, has resisted pressure from the president to lower interest rates. REUTERS
Kevin Hassett, a White House economic adviser, said over the weekend that Trump has the authority to fire