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The Independent UK
The Independent UK
National
Christopher Rugaber and Josh Boak

How Trump could use a building renovation to oust the Fed chair

Trump Federal Reserve Renovations Explainer - (Copyright 2025 The Associated Press. All rights reserved.)

President Donald Trump says he has finally found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell, accusing him of mismanaging the U.S. central bank’s $2.5 billion renovation project.

The push comes after a monthslong campaign by Trump to try to rid himself of the politically independent central banker, who has resisted the president's calls to slash interest rates out of concerns about the administration's tariffs sparking higher levels of inflation.

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