We have taken great care to ensure the project is carefully overseen since it was first approved by the Board in 2017,” the Federal Reserve chairman said.

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

The White House budget director, Russell Vought, told reporters that the administration wanted to have an on-site inspection of the Fed’s troubled $2.5bn building renovations amid a feud between US Pr