After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project.

Trump has used the renovation project as both a literal and symbolic example of what he has often described as government waste. Speaking to reporters last week, Trump called the construction effort “a disgrace,” and accused Fed officials of overspending at a time when inflation remains high and interest rates are biting into household budgets.

In the latest escalation in the feud between President Donald Trump and Fed Chair Jerome Powell, the president called for Powell to "resign immediately."

President Trump called the attention on the Jeffrey Epstein case a scam and turned his attention to the Federal Reserve.

President Donald Trump visited the Federal Reserve headquarters in Washington on Thursday, where he publicly scorned Fed chairman Jerome Powell over the costs of a long-planned, roughly $2.5 billion renovation project,

German auto giant Volkswagen has announced that tariffs imposed by US President Donald Trump has cost it 1.3 billion euros (A$2.33 billion) in the first half of the year as it reported falling profit. Overall net profit fell 38.5 percent year-on-year during the period to hit 4.48 billion euros ($A8.02 billion) billion).

Odds of Jerome Powell's removal hit new highs as Trump waves draft firing letter. Political pressure and inflation data drive markets into uncertainty.

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.