Trump Urges Powell to Resign Amid Fed Renovation Controversy

U.S. President Donald Trump stated in a recent interview that he would welcome Federal Reserve Chair Jerome Powell’s resignation, though he acknowledged removing him could rattle financial markets. The remarks aired Wednesday on the Real America’s Voice network, further intensifying Trump’s public criticism of Powell.

Trump has ramped up pressure on Powell over what he calls a delayed response in cutting interest rates. He also joined other Republicans in criticizing a $2.5 billion renovation of the Federal Reserve’s historic Washington headquarters, citing excessive costs. The criticism has fueled speculation that Trump’s team may be exploring the renovation budget as a legal pathway to remove Powell before his term ends in May 2026.

“I’d love if he wants to resign — that would be up to him,” Trump said, while admitting that dismissing Powell could disrupt markets. He doubled down on his critique of the Fed’s renovation spending during the interview.

Despite the pressure, Powell has remained firm. A Federal Reserve spokesperson reiterated that Powell has no intention of resigning and would not do so if asked. Powell, first nominated by Trump in 2017 and reappointed by President Joe Biden in 2021, has consistently stated his commitment to serve his full term, which ends May 15, 2026.

There is no evidence of fraud tied to the renovation project. The Fed has defended its handling of the construction, emphasizing transparency and compliance with oversight standards.

Trump also said earlier Wednesday that he has no current plans to fire Powell, a move that legal experts say would be difficult without cause. Still, his repeated attacks suggest tensions between the White House and the central bank are far from over.