In recent remarks, Senate Majority Leader John Thune has called for oversight of the Federal Reserve’s costly headquarters renovations, which have ballooned to $2.5 billion. Thune emphasized the Fed’s historic political independence in its role of setting interest, which is traditionally shielded from political influence. However, he acknowledged the need for scrutiny over the project’s expenses. His comments come amid ongoing tensions between Trump’s administration and Fed Chair Jerome Powell, who has resisted calls for lower interest rates. The central bank is self-funded, but its profits are given to the U.S. Treasury annually. Thune’s remarks were made after he met with Trump, though the two did not discuss Powell directly, underscoring the broader political environment surrounding the Fed. The White House Budget Director, Russell Vought, has been examining the costs of the renovation project, and Powell has requested that the Fed’s inspector general review the situation. The Fed’s role in economic policy remains a focal point, with its chair facing increasing pressure to adjust rates despite the administration’s demands. This issue highlights the delicate balance between political pressures and the Fed’s mandate to maintain economic stability.