New Delhi, July 25 -- President Donald Trump on Thursday (July 24) lashed out at Federal Reserve Chair Jerome Powell over the $2.5 billion renovation of the central bank's headquarters in Washington, accusing the Fed of excessive and unnecessary spending.

"It's a very luxurious situation taking place," Trump told reporters, referring to plywood protection for historic features and structural upgrades. "Let's put it that way."

During a tour of the construction site - a rare public glimpse into the Fed's usually discreet operations - Trump claimed the project cost was ballooning. "This came from us?" Powell asked, confused by Trump's estimate of $3.1 billion, which included past renovations. Powell later clarified the Fed's number remains...