Hassett Demands Powell Resign from Federal Reserve Board

White House economic adviser Kevin Hassett has called on Jerome Powell to leave the Federal Reserve's board after a report criticized management of the $2.4 billion headquarters renovation.

The internal watchdog identified management shortcomings that contributed to the project's cost nearly doubling from its original estimate, but found no evidence of criminal wrongdoing or administrative misconduct.

Powell remains a Fed governor despite giving up his leadership role in May, and continues to have a vote on monetary policy as the central bank confronts persistent inflation and rising borrowing costs.

President Donald Trump responded to the report by saying Powell 'should be forced to resign from the Board.'