President Trump has once again called for Federal Reserve Chair Jerome Powell to step down, this time saying Powell should "resign immediately." The demand, made Wednesday on social media, marks an escalation after Trump's earlier suggestions that Powell leave the post, the New York Times reports. Trump has repeatedly criticized Powell for not cutting interest rates, claiming this is costing the US a "fortune." Trump's latest rant against Powell, whom he himself appointed in 2017, also echoed a call for the Fed chair to be investigated, the Hill reports.
Trump shared a post from Bill Pulte, head of the Federal Housing Finance Agency, who accused Powell of political bias and misleading Congress over the costs of a planned renovation at the Fed's headquarters. Pulte called for Powell to be investigated, referencing Powell's denial of media reports about luxury upgrades in the project. Central to the dispute is Powell's stance that the Fed can afford to wait before lowering interest rates. Powell has argued that the economy remains strong, but inflation risks—spurred in part by Trump's own proposed tariffs—mean patience is needed. At a recent panel, Powell suggested rate cuts might have been possible without those tariff policies.
Trump's pressure on Powell isn't exactly surprising. In the past week, he has labeled Powell a "stubborn mule" and sent him a handwritten note urging rate cuts. Trump has previously floated removing Powell before the end of his term in May 2026, but the Supreme Court has indicated that option isn't available to him.
,
uBlock 
,
and
Ghostery 
)
