According to BlockBeats, Powell resigned due to issues with the Federal Reserve building renovation. The renovation budget increased from $1.5 billion to $2.6 billion, and Trump expressed dissatisfaction, believing Powell squandered taxpayer money.
The White House letter points out that the renovation project cost has exceeded $700 million, including luxury facilities, with office space far exceeding standards. The Federal Reserve headquarters was renovated from 1999 to 2003, and the current large expenditure has been criticized as wasteful.
Trump has called for a three percentage point cut in interest rates, which could trigger global monetary easing. Federal Reserve governors serve a term of 14 years, but since 2000, 15 governors have resigned early.