Trump Administration Eyes Federal Reserve Overhaul

The Trump administration is turning its attention to the Federal Reserve's $2.5 billion renovation efforts this week, according to a report from Semafor on Monday. White House Deputy Chief of Staff James Blair confirmed the intended review.

Adding political weight to the visit, Senate Banking Chair Tim Scott is reportedly in discussions to join the review. The potential attendance of Scott suggests the significance of the Federal Reserve's infrastructure project in political circles.

The administration's move underscores its interest in ensuring oversight on high-cost federal financial institutions. This review could play a significant role in shaping future interactions between the Trump administration and the Federal Reserve.

(With inputs from agencies.)