The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.

A dispute over the Federal Reserve’s renovation of its headquarters could provide the pretext to attempt the removal of Fed chief Jerome Powell over interest-rate disagreements.

Office of Management and Budget Director Russell Vought accused Federal Reserve Chair Jerome Powell on Thursday of an “ostentatious” overhaul of the independent agency’s fiscal headquarters amid an increasingly aggressive campaign by President Trump to get Powell to step down from the job.