White House Investigates Fed Renovation Costs and Powell's Firing Authority
President Trump’s adviser Kevin Hassett stated that Trump has the authority to fire Fed Chair Jerome Powell if there is cause, amid ongoing scrutiny over the $2.5 billion renovation of the Fed’s Washington headquarters, which has faced cost overruns and criticism from the administration. The controversy includes questions about the project's expenses and the Fed’s transparency, with some political figures questioning Powell’s leadership and the Fed’s independence. The situation is part of broader political debates about the Fed’s role and oversight.