Trump Renews Call for Former Fed Chief Jerome Powell to Resign
A Fed watchdog report found no grounds for a criminal referral over a $1 billion renovation cost overrun, but cited lapses in project oversight.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
President Donald Trump renewed his call for former Federal Reserve Chair Jerome Powell to resign after the Fed's internal watchdog released a report on a roughly $1 billion cost overrun tied to renovations of the central bank's Washington buildings.
The watchdog's report, issued Wednesday, found no grounds for a criminal referral over the overrun but did fault the project's oversight, pointing to management shortcomings during the renovation process. The findings gave Trump an opening to repeat his criticism of Powell, whom he has clashed with repeatedly over monetary policy and now the building project.
The renovation of the Fed's headquarters has drawn scrutiny in Washington for months, with critics questioning its ballooning cost. The absence of a criminal referral removes one potential legal consequence, but the oversight criticism keeps the issue alive politically.
Trump's renewed call adds to a long-running tension between the White House and the Federal Reserve over its leadership and independence, a dynamic that has shaped much of the public discourse around the central bank in recent years.
Sources
- Trump renews calls for former Federal Reserve chief Jerome Powell's resignation — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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