The Federal Reserve has offered key details of its expensive headquarters renovation project, which the Trump administration has invoked as potential grounds to try to fire Fed chair Jerome Powell. Why it matters: The White House appears to be using cost overruns in the $2.

WASHINGTON, July 13 (Reuters) - U.S. President Donald Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, adding that the Fed "has a lot to answer for" on renovation cost overruns at its Washington headquarters.

White House economic adviser Kevin Hassett suggested Sunday that Jerome Powell, chairman of the Federal Reserve, could be at risk of removal depending on answers related to the central bank’s $2.5 billion headquarters renovation.