Trump calls for Fed chair Jerome Powell to ‘resign immediately’

The news: US President Donald Trump has intensified pressure on Federal Reserve chair Jerome Powell, publicly demanding his resignation.

In a social media post, Trump said: “‘Too Late’ should resign immediately!!!”, while citing a Bloomberg report about an administration official calling for Congress to investigate Powell over his testimony about renovations to the Fed’s headquarters.

Powell told the Senate last week that media reports about swelling costs and extravagant features included in the central bank’s headquarters were “misleading and inaccurate in many, many respects.”

Earlier, Federal Housing Finance Agency director Bill Pulte posted on social media: “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.’”