Trump Demands Powell’s Resignation Over Fed Renovation Controversy

Former President Donald TRUMP escalated his criticism of Federal Reserve Chair Jerome Powell, calling for his immediate resignation if allegations of misleading Congress about the Fed's headquarters renovation prove true. "We should get somebody in there that's going to lower interest rates," Trump told reporters, reiterating his view that Powell was a "terrible" choice for the role.

The controversy stems from skyrocketing costs and alleged extravagant features in the Fed's renovation project. Bill Pulte, director of the Federal Housing Finance Agency, has labeled Powell's testimony on the matter as "deceptive," prompting calls for an investigation. Trump amplified these demands on social media, signaling his intent to replace Powell when the current term ends in May 2026.

Market observers note the Fed's monetary policy decisions under Powell have far-reaching implications for risk assets, including cryptocurrencies. While no digital assets were directly mentioned in the debate, the prospect of future rate cuts could create favorable conditions for crypto markets.