Trump and other White House figures have launched a multi-pronged attack on Powell as push the central bank to lower is key borrowing rate. Most recently, they have blasted Powell after renovations to the Fed's Washington headquarters, raising suspicion that Trump could try to remove the Fed leader for cause.

(Reuters) -President Donald Trump on Tuesday asked Republican lawmakers if he should fire Federal Reserve Chair Jerome Powell, and several people in the room indicated he will do it, CBS News reported, citing multiple sources with direct knowledge. The meeting with members of the House of Representatives took place at the Oval Office, CBS said.

President Donald Trump suggested that a $2.5 billion renovation plan at the Federal Reserve might be sufficient cause to fire Fed Chair Jerome Powell, an escalation of his recent attacks against the central banker.