Trump Says Powell Should Be Forced to Resign From Fed Board
President Donald Trump stated on social media that former Federal Reserve Chair Jerome Powell must be forced to resign from the central bank Board of Governors. Trump also instructed the attorney general to investigate the matter. The demand follows a watchdog report examining the central bank mismanagement of costly headquarters renovations. While the inspector general report found renovation failures, investigators discovered no misconduct, illegal activity, or grounds for criminal referral. The push adds to ongoing removal disputes involving other Fed governors including Lisa Cook and Michael Barr.
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- ✓ President Trump posted on social media that former Federal Reserve Chair Jerome Powell should be forced to resign from the board.
- ✓ A Federal Reserve watchdog report found renovation failures and mismanagement related to central bank headquarters construction.
- ✓ The watchdog investigation found no misconduct, illegal activity, or grounds for criminal referral regarding the renovations.
- ✓ President Trump instructed the attorney general to investigate the matter.
What changed
President Trump publicly demanded Jerome Powell forced resignation from the Fed board and directed the attorney general to investigate following the release of the watchdog report.
Live updates
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Trump Demands Former Fed Chair Powell Resign Over Renovation
President Donald Trump stated on social media that former Federal Reserve Chair Jerome Powell must be forced to resign from the central bank Board of Governors. Trump also instructed the attorney general to investigate the matter. The demand follows a watchdog report examining the central bank mismanagement of costly headquarters renovations. While the inspector general report found renovation failures, investigators discovered no misconduct, illegal activity, or grounds for criminal referral. The push adds to ongoing removal disputes involving other Fed governors including Lisa Cook and Michael Barr.
Why it matters
The controversy centers on an internal watchdog review of expensive construction and renovation projects at Federal Reserve headquarters. Although the probe uncovered organizational failures, investigators explicitly cleared officials of illegal activity or criminal wrongdoing. The findings nonetheless provide political ammunition for efforts to oust central bank leadership. This conflict sits alongside existing disputes concerning other Fed officials.
What is confirmed
- President Trump posted on social media that former Federal Reserve Chair Jerome Powell should be forced to resign from the board.
- A Federal Reserve watchdog report found renovation failures and mismanagement related to central bank headquarters construction.
- The watchdog investigation found no misconduct, illegal activity, or grounds for criminal referral regarding the renovations.
- President Trump instructed the attorney general to investigate the matter.
What to watch next
- Any formal investigative actions or statements from the attorney general regarding the instruction to probe the Fed renovations.
- Responses or legal challenges from Jerome Powell or Federal Reserve leadership regarding removal attempts from the Board of Governors.
confidence 100%Sources used for this update (13)
- The New York Times — Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
- CNBC — Fed watchdog finds renovation failures, but no grounds for criminal referral
- Financial Times — Trump says Powell should resign after Fed watchdog clears ex-chair of misconduct
- Fox Business — The final verdict is in for the Fed's troubled renovation and Jerome Powell
- Bloomberg.com — Trump Says Powell Should Be Forced to Resign From Fed Board
- PBS — News Wrap: Watchdog finds no criminal activity by Powell related to Fed renovation
- Politico — Why Powell is likely to stick around at the Fed
- Bloomberg.com — Watch Trump Calls for Powell to Resign From Fed Board
- Reuters — The Fed's building renovations and Trump's push to oust Powell
- www.americanbanker.com — Trump says IG report means Powell must be 'forced to resign' | American Banker
- www.yahoo.com — Trump targets three Fed governors for removal amid legal hurdles
- www.businesspost.ie — Trump says Powell should be forced to resign from Fed board | Business Post
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