The White House accuses the Fed chair of potentially "violating the law" in his renovation of the central bank's Washington, D.C., headquarters.

The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday.

WASHINGTON, July 13 (Reuters) - U.S. President Donald Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday and that the Fed "has a lot to answer for" on renovation cost overruns at its Washington headquarters.

The president has repeatedly expressed frustration over the central bank’s decision to hold interest rates steady instead of lowering them.