Donald Trump on Wednesday called for Federal Reserve Chair Jerome Powell to resign, accusing him of misleading Congress about renovations at the Fed’s Washington, D.C., headquarters. “‘Too Late’ should resign immediately!!!” Trump posted on Truth Social, referencing his long-used nickname for Powell.
The call follows claims by Federal Housing Finance Agency Director Bill Pulte, who accused Powell of giving “deceptive” testimony before the Senate Banking Committee. Pulte alleged Powell lied about the scope and cost of a $2.5 billion renovation plan.
Powell testified that some expensive features were part of older plans and have since been scrapped. He defended ongoing costs as basic maintenance. But Pulte argued the explanation was misleading and grounds for removal.
Rep. Jim Jordan, chair of the House Judiciary Committee, told Bloomberg that Congress may investigate the matter. Trump, a frequent Powell critic, appointed him to the Fed in 2017 and has long voiced frustration over interest rate decisions.
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