Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.

President Donald Trump ramped up the pressure on Jerome Powell, attacking the Federal Reserve Chair over the costly renovation of the central bank’s headquarters and again calling for him to step down.

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.