Trump pressures Powell to quit over Fed headquarters renovation overruns

The Federal Reserve headquarters renovation is now nearly a $2.5 billion project, more than $1 billion above its initial projections. The watchdog found major management failures, including over $2 billion in construction awards made before anyone had an overall cost estimate.

Trump is using the overruns to demand Jerome Powell leave the Fed Board or face a federal lawsuit, and asked Attorney General Todd Blanche to review the report. The same report found no misconduct or reasonable grounds for a federal-law violation.