Trump and other White House figures have launched a multi-pronged attack on Powell as push the central bank to lower is key borrowing rate. Most recently, they have blasted Powell after renovations to the Fed's Washington headquarters, raising suspicion that Trump could try to remove the Fed leader for cause.

The Federal Reserve has defended itself from White House criticism that ongoing, costly renovations at the central bank’s headquarters in Washington are the result of mismanagement.

For months, Trump has demanded that the Fed lower interest rates, with no success.