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Central BanksMediumUpdated•Originally published 1 October 2026•Updated 2 October 2026•
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Trump Calls for Jerome Powell's Resignation from Federal Reserve Board

Key Facts

1President Donald Trump stated that former Fed Chair Jerome Powell should be forced to resign from the Board of Governors.
2Trump's call for resignation is based on findings that the central bank mismanaged the renovation of its headquarters.

President Donald Trump stated that former Federal Reserve Chair Jerome Powell should be forced to resign from the Board of Governors. Bloomberg Government reported that Trump's demand is based on findings that the central bank mismanaged the renovation of its headquarters.

The direct presidential pressure on a Fed governor creates potential volatility in dollar markets as investors assess the impact of political noise on central bank independence. Powell continues to serve on the Board following the conclusion of his chairmanship, while the Fed is currently led by Chair Kevin Warsh, who took office in May 2026.

Latest Updates · 1

  1. Notable·

    Update: Dallas Fed President Lorie Logan called for an additional half-percentage point interest rate hike on October 2, 2026. These hawkish remarks shift market focus from administrative disputes within the central bank toward the future monetary policy outlook.