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

President Donald Trump on Wednesday appeared to escalate his attacks on Federal Reserve Chair Jerome Powell, a step investor call dangerous.

President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.

The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

A dramatic day on Wednesday ended with Wall Street in the green and the dollar and short-dated Treasury yields lower, although off their earlier extremes, after President Donald Trump denied reports he will soon fire Fed Chair Jerome Powell.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.