Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project.

Powell has faced a firestorm of Republican criticism over the lavish renovation — as President Trump demands that Powell consider resigning after refusing to lower interest rates.

High-profile criticism of some $700 million in cost overruns is said to be an effort to pressure Jerome Powell to quit.

President Trump and his allies have accused the Federal Reserve chair, Jerome Powell, of misleading Congress in what some legal scholars worry is a prelude to seeking his removal.

White House budget chief Russell Vought on Thursday accused Federal Reserve Chair Jerome Powell of mismanaging the central bank’s budget during renovations, adding to President Trump’s criticism

President Donald Trump is scheduled to welcome NATO Secretary-General Mark Rutte to the White House on Monday, a day after the president said the U.S. would provide "sophisticated" equipment to Ukraine to aid in its fight against Russia.

U.S. Federal Reserve Chair Jerome Powell has asked the Fed board's inspector general to take a fresh look at the project aimed at overhauling Fed buildings, Politico reported on Monday, citing a letter to lawmakers by Powell.

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.