Jerome Powell has responded to sharp criticism from the Trump administration about renovations to the Fed’s offices, answering questions about changes to the project as well as reaffirming the central bank’s commitment to “transparency for our decisions and to be accountable to the public.”

President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

Federal Reserve Chair Jerome Powell defended the bank's $2.5 billion headquarters renovation budget amid feud with Trump over interest rates.