A Trump administration official on Friday suggested that Federal Reserve Chair Jerome Powell is reportedly considering resigning.
Federal Housing Finance Agency Director Bill Pulte – a vocal critic of Powell who has backed President Donald Trump’s efforts to pressure the central bank into interest rate cuts – released a statement on X and the agency’s website alluding to unspecified reports that Powell will resign.
“I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom,” Pulte said.
It’s unclear where Pulte is getting the information he used for the statement and there is no other public information on the subject at this time.
FOX Business reached out to the Federal Reserve regarding Pulte’s statement. A Fed spokesperson declined to comment and referenced the numerous times that Powell has said he intends to serve out the remainder of his term.
Pulte, who was confirmed to his role by the Senate in March, has repeatedly called for Powell to resign or face investigation over the agency’s handling of monetary policy and other matters on social media since taking office.
In late May, Pulte posted that Powell “needs to lower interest rates” and said the “housing market would be in much better shape if Chairman Powell does this.”
He began calling for Powell’s resignation in mid-June, after central bank policymakers held the benchmark federal funds interest rate target steady for the fourth consecutive meeting. Since then, Pulte has posted multiple criticisms of Powell and calls for his resignation multiple times per day.
Last week, Pulte called for Congress to investigate Powell over “his political bias, and his deceptive testimony, which is enough to be removed ‘for cause.'” He added that that Powell mismanaged the Fed’s headquarters renovation project and said it’s “nothing short of malfeaseance and is worthy of ‘for cause.’”
President Trump has publicly weighed firing Powell, though under federal law he can only be removed for cause.
This is a developing story. Please check back for updates.
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