After months of frustration with Federal Reserve Chair Jerome Powell, it appeared this week that President Donald Trump called on him to step down “immediately.”
The president reposted a Bloomberg article on Wednesday that reported on the head of the Federal Housing Finance Agency (FHFA) calling for Powell to resign.
“‘Too Late’ should resign immediately!!!” the president wrote.
“Too Late” should resign immediately!!!
“Fed Chair Should Be Investigated by Congress, FHFA Head Says” https://t.co/w2qccfFRWa (https://t.co/w2qccfFRWa)
(TS: 02 Jul 22:10 UTC)— Trump Truth Social Posts On X (@TrumpTruthOnX) July 2, 2025
FHFA Director Bill Pulte called for Congress to investigate Powell’s “deceptive” testimony in a statement on Wednesday.
“I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed ‘for cause,’” the Fannie Mae and Freddie Mac chief wrote. “Jerome Powell’s $2.5B Building Renovation Scandal stinks to high heaven, and he lied when asked about the specifics before Congress. This is nothing short of malfeasance,” he said.
U.S. Federal Housing and the Fannie Mae and Freddie Mac Chairman Calls on Congress to Investigate Jerome Powell pic.twitter.com/E6P9MobJOa
— Pulte (@pulte) July 2, 2025
In a note earlier in the week, Trump called out Powell for keeping interest rates “artificially high” and demanding they be lowered “by a lot.”
“You are, as usual, ‘Too Late,” the president wrote as seen in a social media post sharing the handwritten note he’d sent to the head of the independent agency.
“You have cost the USA a fortune and continue to do so. You should lower the interest rate by a lot! Hundreds of billions of dollars being lost! No inflation,” Trump added in the post, showing how other countries have lower rates than those in the U.S.
Jerome “Too Late” Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States. They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED — And continue to do so. If they were doing their job… pic.twitter.com/Uwa2AX9dzA
— Trump Truth Social Posts On X (@TrumpTruthOnX) June 30, 2025
Earlier this year, Trump expressed on Truth Social that Powell’s “termination cannot come fast enough.”
His criticism of the Fed chair was something he spoke about with reporters aboard Air Force One where he called Powell a “moron.”
President Trump says Fed Chairman Jerome Powell is a MORON.
“We have a MORON at the head of the fed.”
“He’s a moron.” “I already have two or three choices to replace him.” pic.twitter.com/CUfILMu3jP
— Derrick Evans (@DerrickEvans4WV) July 2, 2025
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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