Donald Trump has suggested Jerome Powell could be sacked for fraud as pressure builds on the Federal Reserve chairman over a multi-billion dollar renovation of the central bank. Following reports that Mr Trump was preparing to oust the Fed chief,

The President’s campaign to bend the independent central bank to his will is straight out of the playbook of populist strongmen and will likely go on for years.

The Federal Reserve holds its latest interest rate meeting this week, with policymakers expecting rates to be left unchanged despite President Donald Trump's calls for interest rate cuts.