US President Donald Trump once again escalated his attacks on Federal Reserve Chair Jerome Powell, declaring that Powell should “resign immediately” and is “too late” to fix the damage he’s caused.
Trump’s remarks came after a statement by Federal Housing Finance Agency (FHFA) director Bill Pulte, who called on Congress to investigate Powell for allegedly misleading lawmakers. Trump nominated Powell to lead the Fed during his first administration. Joe Biden, who succeeded Trump as president, nominated him for a second term. His tenure as Fed chair is set to end in May 2026.
“Too late. He should resign immediately!!!” Trump posted on Truth Social while sharing a Bloomberg report that quoted Pulte accusing Powell of making “deceptive” statements to the Senate about the Fed’s costly headquarters renovations.
In a separate post on X, Pulte accused the Fed Chair of political bias and said Powell’s conduct was sufficient grounds for removal. “I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed ‘for cause,'” wrote Pulte, who also criticised Powell’s handling of interest rates amid rising housing costs.
Pulte, a housing regulator with considerable influence over mortgage finance giants Fannie Mae and Freddie Mac, has emerged as a vocal critic of the Fed. He has urged Powell to cut interest rates, citing their impact on working-class families trying to afford homes.