Trump says Fed renovations issue might be fireable for Powell

President Trump on Tuesday suggested cost overruns in the Federal Reserve's headquarters renovation could be a fireable offense for Fed chair Jerome Powell.Why it matters: The president and his administration want to be rid of Powell so they can install a chair who will follow Trump's dictate to lower interest rates. While the central bank chair doesn't set rates alone, Trump has been increasingly fixated on Powell himself as the reason rates aren't as much as 3 percentage points lower.Catch up quick: The Office of Management and Budget last week sent Powell a letter demanding answers to a series of questions about overruns and changes in the $2.5 billion project.The Fed has asked its inspector general to look into the details.Top Trump adviser Kevin Hassett suggested last weekend that Trump could potentially fire Powell over the issue.What they're saying: Trump, speaking with reporters at an airport Tuesday, was asked if the renovation issue was a fireable offense. "I think it sort of is," Trump said.Trump, hurling a series of personal insults Powell's way, also suggested there were problems with his sworn testimony to Congress about the building matter. What to watch: Whether the administration actually acts or not.Powell's responses to the OMB letter are due by the end of this week.

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