Federal Reserve Chair Jerome Powell on Thursdayresponded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus,

Russell T. Vought, the head of the Office of Management and Budget, said he and other administration officials wanted access to the Fed’s building in Washington.

Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project.