President Donald Trump on Wednesday demanded that Federal Reserve Chair Jerome Powell step down, slamming him in a blunt post on Truth Social.
“‘Too Late’ should resign immediately!!!” Trump wrote.
Trump’s demand came after Federal Housing Finance Agency (FHFA) Director Bill Pulte accused Powell of lying under oath during a Senate hearing last week. Pulte is calling on Congress to investigate Powell.
According to Bloomberg, Pulte claimed Powell gave “deceptive” answers when questioned about the Fed’s $2.5 billion renovation of its D.C. headquarters. Powell told senators that flashy features in the plans were outdated and had been removed, and that current costs were mostly for basic repairs—like fixing elevators and maintaining existing marble.
Pulte says that’s not true. He believes Powell deliberately misled lawmakers and that his testimony is grounds for removal.
Trump has repeatedly attacked Powell in recent months, frustrated by the Fed’s refusal to cut interest rates. Though he nominated Powell in 2017, Trump has since called him “Too Late” and hinted at wanting him fired.
Powell’s term as Fed Chair runs through 2026.
