Potential Resignation of Federal Reserve Chairman Jerome Powell

Officials from the Trump administration suggested on Friday that Federal Reserve Chairman Jerome Powell might be contemplating resignation.

Bill Palt, who heads the Federal Housing and Finance Agency, has openly criticized Powell for his alignment with President Donald Trump’s calls to lower interest rates. In a statement published on the agency’s website, he hinted at an unconfirmed report concerning Powell’s resignation.

“We are encouraged by reports that Jerome Powell is considering resigning. This is the right decision for America, and I think the economy will boom,” Pulte mentioned.

It’s unclear where Pulte sourced the information that led to his statement, and no additional public details are available at this time.

Fox Business reached out to the Federal Reserve regarding Pulte’s comments. A spokesman from the Fed declined to provide any comments, noting that Powell previously expressed his intent to complete his term.

Pulte, who was confirmed by the Senate in March, has been vocal about his calls for Powell’s resignation and has scrutinized the handling of monetary policy since taking office.

Earlier in May, Pulte stated that “we need to cut interest rates,” and suggested that if Powell acted on this, the housing market would significantly improve.

His calls for resignation escalated in mid-June, following the central bank’s decision to maintain interest rate targets for the fourth consecutive meeting. Since then, Pulte has issued several critiques of Powell, even making multiple calls for his resignation each day.

Last week, Pulte urged Congress to investigate Powell for what he described as “political bias and deceptive testimony,” claiming this provided enough grounds for removal.

President Trump has also publicly commented on Powell’s performance but is constrained by federal law, which allows for removal only under specific conditions.

This is a developing story. Please check for updates.