The Fed is self-funding and doesn’t need outside approval for building projects, according to the law that created the central bank.

The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

President Donald Trump said he’s not planning to fire Jerome Powell, and still managed to make it sound like a threat. Trump’s comments capped a hectic few hours that took his pressure campaign against the Federal Reserve chief to a new level — and sent markets into a shortlived nosedive.