Trump Admin Applauds Reports of Jerome Powell Possibly Resigning

The Trump administration is turning up the pressure on Federal Reserve Chair Jerome Powell, cheering reports that he may be considering resignation and signaling that the U.S. economy would be far better off if he stepped down.

Federal Housing Finance Agency Director William Pulte praised the rumors on Friday, saying Powell’s exit would be a boost for America’s financial future. “I’m encouraged by reports that Jerome Powell is considering resigning,” Pulte stated. “I think this will be the right decision for America, and the economy will boom.”

While it remains unclear what specific “reports” Pulte referred to, what is clear is that President Trump has had enough of Powell’s high-interest rate strategy and questionable priorities. Speaking to reporters before heading to flood-ravaged Texas, Trump didn’t hold back.

“I think he’s doing a terrible job,” Trump said. “I think we should be 3 points lower, interest rates. He’s costing our country a lot of money.”

This isn’t the first time Trump has called for Powell’s resignation. At a Cabinet meeting earlier this week, the president openly said Powell should “resign immediately” so someone with the backbone to slash interest rates could be appointed.

The facts are on Trump’s side. Despite clear signs that high interest rates are throttling middle-class families and choking business growth, Powell has remained obstinate. Trump added insult to injury by pointing out Powell’s selective timing:

“He’s always late. But he wasn’t late with Biden before the election, he was cutting them like crazy. It didn’t help too much, did it?”

Even worse, Powell’s Federal Reserve is now under fire for fiscal recklessness at its own headquarters. The Fed’s D.C. renovation project has ballooned to $2.5 billion, nearly $700 million over budget, according to the Office of Management and Budget. The project reportedly includes:

• Terrace rooftop gardens

• VIP-only elevators

• Water features

• Premium marble interiors

• A staggering $1,923 per square foot construction cost double the average for historic federal buildings

As OMB Director Russ Vought pointed out, “The Palace of Versailles would have cost $3 billion in today’s dollars!” a stunning comparison to what’s essentially become a monument to bureaucratic vanity.

And while Powell pampers Washington insiders with palace-like luxuries, American homeowners, small businesses, and workers are being crushed under soaring mortgage rates and credit costs, all thanks to his refusal to pivot.

Powell’s term as Fed chair runs until May 2026, with his full tenure on the Fed board lasting through 2028 unless he bows to mounting pressure from both the Trump administration and a growing chorus in the Senate who are finally asking the right questions.

One thing is certain: Jerome Powell has become the embodiment of everything wrong with D.C. elitism detached from Main Street, beholden to no one, and all too comfortable raising rates on struggling Americans while signing off on marble upgrades and rooftop gardens.

If you’re ready to see financial leadership that actually puts Americans first, share this article and subscribe to our newsletter for more breaking updates.