Trump renews calls for former Federal Reserve chief Jerome Powell's resignation

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1. 1h ago

   Trump Renews Call for Powell to Resign Following Fed Renovation Report

   President Donald Trump renewed his demand for former Federal Reserve chief Jerome Powell to resign from the Fed board. The renewed call followed a report from the Federal Reserve watchdog that found no grounds for a criminal referral regarding a roughly $1 billion cost overrun on renovations to the central bank's Washington buildings. Despite clearing Powell of criminal misconduct or illegal activity, the inspector general faulted project oversight for the extensive problems that drove up costs on the historic buildings.

   Why it matters

   The investigation centered on a costly budget overrun tied to central bank building renovations in Washington. Although the federal watchdog discovered no evidence of illegal activity or criminal conduct, project oversight faced direct criticism. The findings triggered renewed political pressure from the White House against leadership at the central bank.

   What is confirmed

   • The Federal Reserve's watchdog found no grounds for a criminal referral over a roughly $1 billion cost overrun on renovations to the central bank's Washington buildings.
   • President Donald Trump renewed his call for former Federal Reserve chief Jerome Powell to resign from the Fed board following the inspector general's findings.
   • The Fed watchdog report pointed toward extensive problems with project oversight that drove up the cost of renovating the central bank's two historic buildings.

   What to watch next

   • Any response or formal statement from Jerome Powell regarding the renewal of resignation calls
   • Further actions or statements from the White House regarding the Federal Reserve board
   Sources used for this update (14)

   1. The New York Times — Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
   2. Fox Business — The final verdict is in for the Fed's troubled renovation and Jerome Powell
   3. axios.com — Fed watchdog clears former chair Powell in renovation probe
   4. Politico — Why Powell is likely to stick around at the Fed
   5. France 24 — Trump renews calls for former Federal Reserve chief Jerome Powell's resignation
   6. www.france24.com — Trump renews calls for former Federal Reserve chief Jerome Powell's resignation - France 24
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   8. en.sedaily.com — Trump Renews Call for Powell to Quit Fed Board Despite No Criminal Findings - Seoul Economic Daily
   9. www.wionews.com — Renovation of central bank buildings: Trump renews call for Powell's resignation amid watchdog's report
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