Federal Reserve Chair Jerome Powell has asked the central bank’s inspector general to conduct an additional review of an ongoing $2.5 billion renovation of the institution’s headquarters that has drawn fire from President Donald Trump and others,

Washington — President Trump on Tuesday asked a group of House Republicans if he should fire Federal Reserve Chair Jerome Powell — and people in the room voiced approval. Several sources said Mr. Trump indicated he will do it. Mr. Trump on Wednesday confirmed to reporters in the Oval Office that he spoke to lawmakers about ousting Powell.

It is becoming clear what the major challenge will be for Jerome Powell’s successor: Maintaining the Fed’s independence while keeping President Trump happy.

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

Speaking to reporters in the Oval Office, President Trump was asked about Fed Chair Jerome Powell possibly being under investigation.