Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.

President Donald Trump renewed his criticism of Federal Reserve policy under Jerome Powell, calling the chair a "knucklehead" and advocating for interest rates to be at less than 1%.

Federal Reserve Chair Jerome Powell is asking an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious."