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.

The White House on Thursday launched a fresh attack on Federal Reserve Chair Jerome Powell, with a top Trump administration official saying Powell had "grossly mismanaged" the central bank, chastising him for running a deficit and for extensive cost overruns for building renovations.

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.