Trump says former Fed Chair Powell should be forced to resign from Federal Reserve board

  • President Donald Trump called for Jerome Powell to resign from the Federal Reserve Board of Governors.
  • The Federal Reserve renovation is estimated to cost about $2.4 billion, roughly $1 billion over budget.
  • The Inspector General found oversight deficiencies but no criminal activity or administrative misconduct.

President Donald Trump called for former Federal Reserve Chair Jerome Powell to be forced to resign from the Federal Reserve's Board of Governors after an Inspector General report identified oversight deficiencies in the central bank's headquarters renovation. The project involving two historic buildings on the National Mall in Washington is estimated to cost about $2.4 billion, roughly $1 billion above its original budget. The report found no reasonable grounds to believe federal criminal law had been violated and identified no administrative misconduct, while recommending corrective action. Trump asked Attorney General Todd Blanche to review the findings and determine next steps, and said he believes the final project cost will reach $3.5 billion to $4 billion.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.