Central BanksMedium•1 October 2026•
1 min read
Trump Calls for Powell Resignation Over Fed Renovation Cost Overruns
Key Facts
1President Donald Trump called for Jerome Powell to resign from the Federal Reserve.
2An inspector general report detailed major cost overruns on the Federal Reserve's headquarters renovation.
President Donald Trump called for Jerome Powell to resign from his position at the Federal Reserve. Fox Business reported that the demand follows an inspector general report which detailed major cost overruns regarding the renovation of the Federal Reserve's headquarters.
The call for resignation adds to existing political tensions over the central bank's fiscal management, with the inspector general highlighting excessive spending on building infrastructure. While Kevin Warsh has served as the Federal Reserve Chair since May 2026, Powell remains under scrutiny following the findings of mismanagement in the renovation project.