Federal Reserve Chairman Jerome Powell on Thursday vigorously defended the spending toward the renovation of the central bank’s Washington, D.C. headquarters. Replying to a letter sent by White House Office of Management and Budget (OMB) Director Russell Vought last week,

For a moment on Wednesday, it looked like President Donald Trump would finally attempt the improbable and fire Federal Reserve Chair Jerome Powell.

The administration has asserted that Mr. Powell has mismanaged the project, resulting in a cost overrun, and it has demanded that he provide answers about the project to the Office of Management and ...

“Financial markets sent a warning shot Wednesday as to what would happen if President Trump actually tried to fire Fed Chair Powell,” said Guha.

Wall Street is hanging near its records following some better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies.

“We’re not planning on doing anything,” Trump told reporters at the White House, adding later, “I don’t rule out anything, but I think it’s highly unlikely. Unless he has to leave for fraud.”