Trump Targets Powell Over $2.5 Billion Fed Renovation | JQJO

President Trump is attempting to remove Federal Reserve Chair Jerome Powell, citing mismanagement of a $2.5 billion renovation project at Fed buildings. Trump claims the cost is excessive and Powell misrepresented the project. Powell denies Trump's accusations, stating that the renovation was necessary due to outdated infrastructure and that some originally planned features were removed. This action risks undermining the Fed's independence and could trigger market instability. The legality of removing Powell remains contested, although Trump may argue "for cause." The Fed has requested an independent review of the renovation costs.