Fed Chair Jerome Powell faces investigation over renovation testimony
Federal Reserve Chair Jerome Powell is under investigation for possibly giving misleading answers to Congress about a $2.5 billion renovation of the Fed's DC headquarters.
The main question: did he downplay or deny luxury features in the project?
Powell told the Senate last June that no such extras were planned, but planning documents had called for each of those features.
The renovation, which started in 2022 and is fully paid for by the Fed, should wrap up by fall 2027.
Trump weighs in, reigniting old tensions
Former President Trump has jumped into the conversation, using this controversy to criticize Powell's handling of economic policy—no surprise since their disagreements over interest rates go way back.
Trump even called for Powell's resignation, showing just how heated things have gotten between them since appointing him in 2018.