Report, report!! Trump finds a "new reason"! With accusations from high-ranking officials, he roars that Powell should resign immediately!!!
After a senior government official accused Powell of "deceiving" Congress, Trump quickly seized the opportunity to once again post a scathing critique of Powell and the Federal Reserve.
"I request Congress to investigate Chairman Powell, his political bias, and his deceptive Senate testimony, which is sufficient to remove him 'for cause'," Pulte said in a post on social media on Wednesday, accusing Powell of making inaccurate statements but providing no evidence.
Pulte has been ramping up his criticism of Powell and urged him to resign in another post. As the head of a major housing regulatory agency, Pulte has also pushed for Powell to cut interest rates, stating that the public is suffering from high borrowing costs.
President Trump, who has long complained about Powell's unwillingness to cut rates faster, amplified the FHFA director's call for the Federal Reserve chairman to resign on Wednesday evening local time.
"'Mr. Too Late' should resign immediately!!!" Trump wrote on social media, using this nickname to mock Powell for not lowering rates.
Trump has been intensifying his pressure campaign against the Federal Reserve chairman, vehemently criticizing the Fed's stance on maintaining interest rates. Last month, Trump stated that he would choose a successor who wishes to reduce borrowing costs.
Media reports have claimed that the renovation project at the Federal Reserve headquarters has seen its costs balloon and includes several luxurious facilities. At a Senate hearing last week, Powell disputed certain aspects of the reports, stating they were "misleading and inaccurate in many, many ways."
"All that incendiary stuff reported by the media is either not in the current plan or is inaccurate," he said.
He indicated that the renovation plans have been evolving and expressed an openness to discussing project costs with lawmakers.
Earlier this year, Trump sent mixed signals, posting on April 17 that "it would be better to fire Powell sooner rather than later!" but then stated on April 22 that he "had no intention of firing him."
Last week, Trump mentioned that he already has three or four candidates in mind to succeed Powell when his term ends next year.
