Fed Chair Jerome Powell seeks review of $2.5B D.C. headquarters renovation amid cost criticism.

Federal Reserve Chair Jerome Powell has asked for an inspector general review of the $2.5 billion renovation of the Fed's headquarters in Washington, D.C., after criticism from the Trump administration over the high costs. President Trump was "extremely troubled" by the cost overruns, and the review is meant to address concerns of fiscal mismanagement. The Federal Reserve maintains control over its projects with oversight by Congress and its inspector general.