President Donald Trump is swinging hard at Federal Reserve Chair Jerome Powell, demanding his immediate resignation over a brewing scandal and stubbornly high interest rates, as Fox Business reports. The clash, rooted in months of tension, escalated this week with Trump amplifying calls for a congressional probe into Powell’s alleged deception. It’s a classic Trump move -- calling out a bureaucrat for costing America big while dodging accountability.
Trump’s feud with Powell, fueled by the Fed’s refusal to slash interest rates, has now merged with accusations from FHFA Director Bill Pulte, who claims Powell misled Congress about a $2.5 billion Fed headquarters renovation. The president’s frustration isn’t new, but it’s gaining traction as allies like Pulte and Sen. Cynthia Lummis pile on with serious charges. This isn’t just about rates—it’s about trust in leadership.
For months, Trump has hammered Powell for keeping interest rates “artificially high,” arguing they’re bleeding the economy dry. On Monday, he sent a pointed note, read aloud by White House press secretary Karoline Leavitt, slamming Powell for costing the U.S. “hundreds of billions” with no inflation to justify it. Trump’s logic is simple: lower rates elsewhere prove Powell is out of touch.
Trump’s Monday message didn’t mince words, accusing Powell of being “too late” and economically disastrous. Leavitt relayed the president’s blunt demand: “You should lower the rate by a lot.” It’s a rallying cry for those fed up with the Fed’s ivory-tower policies.
By Wednesday, Trump upped the ante, reposting a Bloomberg article on Truth Social that highlighted Pulte’s call for an investigation into Powell. The president’s post was fiery: “‘Too Late’ should resign immediately!!!” It’s vintage Trump -- turning a policy dispute into a public showdown.
Pulte, the FHFA director, brought fresh fuel to the fire, posting on X that Powell’s testimony to the Senate Banking Committee was deceptive. He pointed to Sen. Cynthia Lummis, who allegedly said Powell made “factually inaccurate” claims about the Fed’s lavish renovations, including a private dining room and roof terrace. Pulte’s not playing around -- he is demanding that Congress dig deep.
Pulte’s accusations center on Powell’s testimony last week, where he addressed concerns about the Fed’s $2.5 billion headquarters overhaul. Lummis reportedly called out Powell for misrepresenting details about plush upgrades like skylights and water features. If true, this isn’t just bad optics—it’s a breach of public trust.
“Jerome Powell’s $2.5B Building Renovation Scandal stinks to high heaven,” Pulte wrote on X, labeling it “malfeasance” worthy of removal “for cause.” He’s not wrong -- spending billions on elite workspaces while Americans face high rates feels like a slap in the face. Pulte’s push for accountability is a wake-up call.
Pulte doubled down, urging Congress to probe Powell’s “political bias” and deceptive testimony. “I am asking Congress to investigate Chairman Jerome Powell,” he stated, arguing the Fed chair’s actions justify ousting him. It’s a bold move, but will Congress bite?
House Judiciary Chair Jim Jordan, speaking to Bloomberg on Wednesday, kept his cards close but didn’t rule out an investigation. “We haven’t discussed that specifically,” Jordan said, adding that “everything is on the table.” His committee’s oversight role could spell trouble for Powell if they take up Pulte’s cause.
Jordan’s cautious tone suggests Congress isn’t rushing to judgment, but the pressure is mounting. With Trump, Pulte, and Lummis circling, Powell’s Teflon reputation is starting to crack. Oversight is Congress’s job -- why not start here?
The Federal Reserve, predictably, stayed silent, with a representative declining to comment. That’s no surprise -- bureaucrats love hiding behind “no comment” when the heat’s on. But stonewalling won’t make this go away.
Trump’s call for Powell’s resignation isn’t just about interest rates -- it’s about a Fed chair who seems untouchable. Powell’s refusal to budge on rates, paired with allegations of lying to Congress, paints a picture of arrogance. Americans deserve better than a central banker playing fast and loose with the truth.
Pulte’s $2.5 billion bombshell raises questions about the Fed’s priorities -- why splurge on skylights while the economy groans under high rates? Lummis’s claims, if verified, could prove that Powell’s testimony was more than just a misstep. It’s the kind of scandal that demands answers, not excuses.
Trump’s feud with Powell is a fight for economic sanity, pitting a president who wants relief for Americans against a Fed chair clinging to outdated policies. Whether Congress investigates or Powell steps down, one thing’s clear: the status quo isn’t cutting it. Time’s up for “too late” leadership.
