Kudlow Demands Powell Resign Over Fed Renovation Fiasco

Former Trump economic adviser Larry Kudlow is calling for Jerome Powell to resign from the Federal Reserve Board. Kudlow argues that a recent watchdog report detailing management failures and soaring costs in the Fed's headquarters renovation provides another reason for Powell to step aside.

The inspector general found serious problems with the management of the renovation, including weaknesses in cost controls, contracting, and project management. The project's overall budget increased from $1.3 billion in 2020 to $2.4 billion by December 2024, while the construction portion of that budget more than doubled.

Kudlow also cited criticism of Powell's tenure as Fed chair under President Trump, who repeatedly accused him of waiting too long to lower interest rates. Trump has also focused on the Fed's costly renovation project, calling it a 'disaster' and criticizing Powell's record on interest rates.