Donald Trump has been bullying Federal Reserve Chair Jerome Powell—calling him “too late,” insulting his intelligence, and trying to gin up a case that Powell spent too much on renovations of the agency’s headquarters as a pretext for firing him.

On the monetary front, Trump’s public feud with Powell continues to escalate, with the president blaming the Fed for slowing economic momentum. The White House is now scrutinizing the central bank’s massive building renovation, citing cost overruns and questioning whether the Fed, which controls its own budget, is exceeding its authority.