A senior Trump administration official said Friday that Fed Chair Jerome Powell is “considering resigning” as pressure grows for an investigation into whether he lied to Congress about the central bank’s “Palace of Versailles” renovations to its headquarters in Washington, DC.

The Federal Reserve's independence is being questioned due to allegations of financial mismanagement. President Trump criticizes Fed Chair Jerome Powell over a costly headquarters renovation, sparking debate over the Fed's autonomy.

Trump and the Fed drama takes a wild turn nobody saw coming and the shocking developments will completely change monetary policy forever.

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

President Donald Trump is escalating his 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 headquarters.

Michael Schaffer is a senior editor and columnist at POLITICO Magazine. He has covered national and local politics for over 20 years and spent seven years as editor-in-chief of the Washingtonian. His Capital City column chronicles the inside conversations and big trends shaping Washington politics.

To allow an individual, or group of rogue political insiders to second guess professionals at the Fed would be a monumental mistake.

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.