Trump Builds Case to Fire Fed Chair Powell Over "Extravagant" $2.5 Billion Renovation

• President Trump is reportedly building a case to remove Fed Chair Jerome Powell, focusing on the rising costs of the Fed's Washington headquarters renovation.
• The renovation, originally estimated at $1.9 billion, has climbed to $2.5 billion, drawing criticism from Trump allies who label it "extravagant."
• Critics, led by Russell Vought, liken the project to the Palace of Versailles, citing features like roof terraces and extensive marble, though Fed officials defend these as functional or reused.
• Powell denies wrongdoing, stating the project was closely overseen, and has requested an additional review by the Fed's inspector general.
• The dispute is seen as leverage for Trump to push for lower interest rates and challenges the independence of the US Federal Reserve.

Why It Matters: Trump is using the Fed's costly renovation as a pretext to potentially remove Chair Powell and influence monetary policy.