Federal Reserve Chair Jerome Powell defended the bank's $2.5 billion headquarters renovation budget amid feud with Trump over interest rates.

The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

Waller favors a rate cut at the Fed’s upcoming July 29-30 meeting because he feels the tariffs are likely to have a limited impact on inflation.

Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project. “We take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people,

Fed Chairman Jerome Powell defends the central bank's $2.5 billion renovation project against Trump administration criticism

It isn’t just the U.S. Other countries have also come to expect an independent U.S. central bank.

President Trump said it was "highly unlikely" he would fire Jerome Powell, but also said he discussed the idea with Republican lawmakers who expressed support.

What a player President Donald Trump is. Just as he was losing control of the Jeffrey Epstein story, rumors suddenly started circulating out of Trump’s White House that he was poised to fire Jerome Powell,