The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.

The dollar remains elevated as traders await U.S. inflation data, providing clues for future monetary policy. With potential changes at the Federal Reserve and Trump's criticism of Jerome Powell, market dynamics are tense.

WASHINGTON: President Donald Trump and his allies have seized upon a new way to criticise the head of the US central bank: his handling of an expensive renovation of the Federal Reserve's (Fed) headquarters.

In the first half year, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council,

Jerome Powell returns to Capitol Hill where Republicans plan to challenge the Fed's $2.5 billion headquarters renovation featuring marble and rooftop gardens amid inflation concerns.

ABC News’ Jonathan Karl interviews White House National Economic Council Director Kevin Hassett on “This Week.”

Two top contenders to replace Jerome Powell slammed the Fed chair for a $2.5 billion renovation of the central bank’s headquarters, with one saying the Trump administration is examining whether it can fire the policymaker and the other saying the Fed has 'lost its way.