President Trump has intensified his feud with Jerome Powell, calling for his immediate resignation over perceived failures in managing interest rates. Trump labeled Powell with the nickname 'Too Late' due to his unwillingness to lower rates. He amplified calls for Congress to investigate Powell regarding the renovation of the Fed's headquarters. Trump has a history of discontent with Powell, having previously expressed desires to remove him and suggesting he would propose a replacement soon, ahead of Powell's term end in 2026.
Trump called for Powell to resign immediately, criticizing his refusal to lower interest rates. He referred to Powell as 'Too Late' in his Truth Social post.
Bill Pulte urged Congress to investigate Powell regarding his political bias and Senate testimony. Pulte stated that this could justify Powell's removal from his position.
Trump’s animosity towards Powell has been longstanding, dating back to 2019 when he claimed the Fed was hindering the stock market's progress.
Trump suggested he could replace Powell, indicating plans to propose a successor as early as September or October before the end of Powell's term.
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