In a letter Thursday, the Federal Reserve chief rejected criticism the White House has leveled at him over the cost of renovation projects.

Amid a fresh set of attacks on Fed Chair Jerome Powell came reports that President Donald Trump might fire the central banker. Increasingly, Trump is frustrated with Powell for not lowering interest rates already. Consumers hoping for lower rates as well may be better off if the Fed sticks to its current plan, experts say.

Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.