Donald Trump Demands Jerome Powell's Resignation Following Fed Report

Donald Trump has demanded the immediate resignation of Jerome Powell from the Federal Reserve Board of Governors following an inspector general's report regarding the renovation of the Fed's Washington headquarters. The report identified management failures, including a budget increase from $1.317 billion in 2020 to $2.381 billion by December 2024 and insufficient competitive bidding for contracts, but found no evidence of criminal activity or administrative misconduct. Powell, who stepped down as Fed chair in May 2026, remains a voting member of the board.