How Trump could use a building renovation to oust the Fed chair
July 15, 2025
President Donald Trump says he has finally found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell, accusing him of mismanaging the U.S. central bank’s $2.5 billion renovation project. The push comes after a monthslong campaign by Trump to try to rid himself of the politically independent central banker. Powell has resisted the president’s calls to slash interest rates out of concerns about the administration’s tariffs sparking higher levels of inflation. But the president indicated Tuesday that Powell’s handling of an extensive renovation project on two Fed buildings in Washington could be grounds to take the unprecedented and possibly legally dubious step of firing him.
