Overview

• FHFA Director Bill Pulte urged Congress to investigate Jerome Powell over allegedly deceptive Senate testimony about the Fed’s $2.5 billion headquarters renovation.
• President Trump took to Truth Social to demand Powell’s immediate resignation and derided him as “Too Late” over steady interest rates.
• Powell has defended his testimony and stressed his commitment to the Fed’s dual mandate of maximum employment and price stability.
• Last month’s Supreme Court ruling affirmed that a Fed chair can only be removed for cause, limiting the president’s authority to oust Powell.
• White House advisers are intensifying discussions on potential successors, with names like Scott Bessent and Michael Barr under consideration ahead of Powell’s 2026 term expiration.