Trump Says Powell Should Be Forced to Resign From Fed Board

President Donald Trump said former Federal Reserve Chair Jerome Powell should resign from the central bank’s board over the renovation of its headquarters, after a report that found a series of missteps that led to surging costs.

“The Building is over budget, at a Record Setting rate and, at a minimum, ‘Too Late’ Powell should be forced to resign from the Board,” the president posted Wednesday on social media, using a derisive nickname he’s long used for Powell.

The president also directed Attorney General Todd Blanche to study the inspector general’s report “and make a determination as to what to do.” The report released earlier Wednesday found no evidence of criminal wrongdoing in the renovation project.

Earlier: Fed’s Watchdog Finds No Criminal Violations in Renovations

Trump’s call could raise pressure on the current Fed chief, Kevin Warsh, to take action against Powell. During Powell’s tenure leading the central bank, the president repeatedly criticized him over monetary policy and used the Fed’s headquarters renovation as a cudgel against him. Powell resisted Trump’s efforts to push him out of office, including threats to fire him, and he remained in his position until Warsh was confirmed by the Senate in May.

Powell, however, has remained on the Fed’s board and his term expires in 2028.

“This is Jerome Powell’s fault, and he should be forced to resign, IMMEDIATELY! If he doesn’t resign, he should be sued, at the highest level, by the United States Government, for either corruption or incompetence, both of which are completely unacceptable,” Trump posted.