U.S. Treasury Secretary Scott Bessent breaks down President Donald Trump’s trade deals, Federal Reserve chair Jerome Powell and more on ‘The Ingraham Angle.’
President Donald Trump will visit the Federal Reserve headquarters in Washington, D.C. on Thursday amid his ongoing feud with Fed chair Jerome Powell.
Trump is joining a group of administration officials touring the headquarters after it underwent $2.5 billion in renovations. The president for weeks has called on Powell to lower interest rates, but the official has not budged.
Some administration officials have argued that the massive renovations were a waste of taxpayer dollars and could even amount to a fireable offense for Powell.
Meanwhile, Treasury Secretary Scott Bessent has noted that Powell’s term will end in May 2026, downplaying the need to fire him outright.
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President Donald Trump has repeatedly threatened to fire fed chair Jerome Powell. ( Anna Moneymaker/Getty Images / Getty Images)
Rep. Anna Paulina Luna, R-Fla., a major Trump ally in Congress, referred Powell to the Department of Justice (DOJ) for criminal charges on Monday, accusing him of two specific instances of perjury relating to the renovations.
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“On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims,” Luna’s said in a letter to the DOJ.
Federal Reserve Board Chairman Jerome Powell is set to leave office in May 2026. (Win McNamee/Getty Images) / Getty Images)
Specifically, she accused him of lying about lavish amenities at the Federal Reserve’s Eccles Building and misrepresenting its state of maintenance.
Trade outlet Mortgage Professional reported that Powell denied all accusations of perjury and has directed a formal watchdog probe into renovation project costs of the Eccles Building.
The Federal Reserve’s website also now includes a video tour of the renovation and notes on its proposed plans.
Rep. Anna Paulina Luna (R-FL) referred Powell to the DOJ for criminal investigation this week. (Anna Moneymaker/Getty Images / Getty Images)
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While Trump has maintained a steady barrage of attacks on Powell for not dropping interest rates, he nevertheless told reporters this week that it was “highly unlikely” he would fire him.
More moderate Republicans and supporters of Powell’s have argued that firing him would create even more market instability.
Fox News’ Elizabeth Elkind contributed to this report
