Trump says Federal Reserve Chief must Resign Immediately

President Donald Trump said late Wednesday that Federal Reserve Chairman Jerome Powell “should resign immediately.” Trump made the remarks on his Truth Social platform, where he shared a news article about a call from William Pulte, the director of the Federal Housing Finance Agency, urging Congress to investigate Powell.

“’Too Late’ should resign immediately!!!” he said, using his nickname for Powell, referring to the Bloomberg story about Pulte. Trump also linked to an article from Bloomberg News detailing comments from Federal Housing Finance Agency (FHFA) Director Bill Pulte, a Powell critic who accused the Fed chair of lying to lawmakers during testimony before the Senate Banking Committee last week.

Pulte said Powell lied to members of the panel when answering questions about renovations to the Fed’s Washington, D.C., headquarters.

When pressed by senators on the Fed’s alleged $2.5 billion renovation plan, Powell said some of the more fanciful inclusions were part of older plans and have since been scrapped. Other costs, such as repairing elevators that go directly to board members’ offices and marble fixtures, were basic upkeep of features that have always been in the building, he said.

He accused Powell of lying about the nature and cost of a planned $2.5 billion renovation of the Fed's headquarters, calling it a clear example of misconduct.

Trump has repeatedly criticized Powell, particularly for “delaying interest rate cuts.” Trump has for months railed against Powell, nicknaming him “Too Late” and bemoaning the Fed’s decision to keep interest rates steady. Trump has mused about firing Powell, whom he appointed to the job in 2017.