By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington,

Federal Reserve Chair Jerome Powell requested an inspector general review of the central bank's $2.5 billion headquarters renovation after Trump officials criticized cost overruns.

The treasury secretary’s latest comments contrast with his earlier alleged role as peacemaker. The president, meanwhile, continued to rail against the Fed chief and the outlet that characterized Bessent as a cooler head prevailing.

Trump lambasted the Fed for its $2.5 billion renovation of its headquarters and another building ahead of a tour of the site.

Trump in April threatened to fire Powell, though he later backed off those threats after stock prices fell in response. The Supreme Court has since signaled that the president doesn’t have the authority to remove the Fed chair over a disagreement about interest rates.

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

Federal Reserve Chair Jerome Powell on Thursdayresponded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus,

Top opinion-shapers and decision-makers are expressing mixed views on the evolving conflict between the White House and the central bank.

Jerome Powell asks inspector general to review Fed’s $2.5B HQ revamp as Trump escalates attacks: report By Ariel Zilber Published July 14, 2025, 12:44 p.m. ET

As per the letter, some features including VIP elevators or dining rooms — which had drawn uproar from the government — had never been in the project's scope. Other features, such as the new water, were on the other hand,

Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.