Federal Reserve chairman Jerome Powell defended his $2.5 billion headquarters renovation project near the National Mall Thursday — insisting that “we take seriously the

Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.

For about an hour on Wednesday, it seemed as though President Donald Trump would try to fire Federal Reserve Chairman Jerome Powell. Before Trump denied the reports, the yield on the 10-year Treasury note climbed by about 5 basis points,