Federal Reserve Chair Jerome Powell is asking an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.".

Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.

The move comes amid speculation that Trump, who has clashed with Powell over interest rates, might try to use the project to remove the Fed chief “for cause."