Trump Demands Powell Resign Amid Federal Reserve Renovation Probe
President Donald Trump has called for Federal Reserve Chair Jerome Powell to resign again, this time after an internal watchdog at the Fed found no evidence that a multibillion-dollar project to renovate the central bank's headquarters violated federal law.
The report by the Fed's independent inspector general concluded that while poor project management likely increased the renovation's $2.5 billion price tag, there was no indication of administrative misconduct during the evaluation.
Trump had previously criticized the project and Powell over its high cost and delayed completion. He also asked Attorney General Todd Blanche to review the report and determine what action should be taken.
Powell's term as a Federal Reserve governor ends on January 31, 2028, but he plans to remain on the Board of Governors until the investigation is 'truly over.'