Trump Administration intensifies pressure on Jerome Powell to step down

Federal Reserve Chairman Jerome Powell is reportedly evaluating leaving his post before the end of his term, William Pulte, president of the Federal Housing Finance Agency, hinted Thursday. The possibility, although not officially confirmed, comes in a context of growing political pressure led by President Donald Trump and officials close to his circle.

"I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom," stated Pulte, who also chairs the boards of Fannie Mae and Freddie Mac. His statement not only reinforces versions circulating about a possible early departure of Powell, but marks a breaking point in the already strained relationship between the Fed and the Republican wing.

Trump demanded his "immediate" resignation

Days earlier, Donald Trump had demanded Powell's resignation outright. Via Truth Social, the president shared a Bloomberg article with a blunt message, saying he "should resign immediately!"

Trump has repeatedly criticized Powell's refusal to cut interest rates, arguing that this stance makes access to credit more expensive and slows the economic recovery. In line with that criticism, Pulte also called on Congress to investigate the Fed chief for "political bias" and alleged "misleading testimony" during his most recent Senate appearance.

"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'," he posted on his X account.