Powell Faces Pressure Over $2.5B Fed Renovation

Federal Reserve Chair Jerome Powell is facing growing political pressure over the central bank’s $2.5 billion renovation of its Washington headquarters, according to Barron's. Director of the Federal Housing Finance Agency William Pulte accused Powell of giving deceptive testimony and called on Congress to investigate whether he had misled lawmakers. President Trump echoed the criticism, urging Powell to resign and questioning the project’s cost. Internal documents referencing luxury features have fueled Republican backlash, though Powell maintains those elements are not in the final plan.  Legal protections make it difficult for Powell to be removed, but the controversy has intensified scrutiny of his leadership and the Fed’s spending.