The White House is escalating its pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s head

A key Trump official said Federal Reserve Chair Jerome Powell has “grossly mismanaged” the institution and demanded more information about the central bank’s renovation of its headquarters in Washington.

The White House on Thursday launched a fresh attack on Federal Reserve Chair Jerome Powell, with a top Trump administration official saying Powell had "grossly mismanaged" the central bank, chastising him for running a deficit and for extensive cost overruns for building renovations.