The White House is criticizing an expensive renovation at Federal Reserve headquarters as President Donald Trump pursues a pressure campaign to lower interest rates.

JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".

Vought sent a letter to Powell probing him with questions over the renovation of the Federal Reserve’s headquarters in Washington, D.C.

Republicans believe Powell’s testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.