Republicans believe Powell’s testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.

The Trump administration has accused Federal Reserve Chair Jerome Powell of potentially "violating the law" over his renovation of the central bank's Washington, D.C., headquarters.The Office of Management and Budget (OMB) Director Russell Vought said Thursday that Powell had misled Congress about the "ostentatious" renovations during his testimony before the Senate Banking Committee in June.