Trump lambasted the Fed for its $2.5 billion renovation of its headquarters and another building ahead of a tour of the site.

President Donald Trump's contemplation of firing Federal Reserve Chair Jerome Powell over interest rate disagreements threatens to challenge the legal boundaries of historical Fed independence. The Federal Reserve Act's unclear definition of 'cause' for removal of board members could lead to unprecedented legal confrontations and implications for the central bank's autonomy.

After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project.