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.

Republicans believe Powell's testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.

President Donald Trump met with Federal Reserve Chairman Jerome Powell this week, striking a lighter tone between himself and the Fed following a tour of the central bank’s headquarters. But the Fed holding interest rates steady once again next week could be a blow to that truce.