Trump Demands Powell's Resignation Over Fed Headquarters Renovation Scandal

Donald Trump has demanded the immediate resignation of Federal Reserve Chairman Jerome Powell. The trigger for this decision was a report from the Office of Inspector General on the progress of the renovation of the Fed's headquarters in Washington.

The document records serious deficiencies in project management, with costs already exceeding $2 billion. Meanwhile, a guaranteed maximum price (GMP) for construction has not yet been established.

The initially projected final cost of $2.5 billion may rise to $3.5–4 billion. Trump called Powell "always late" and stated that he is incapable of even managing the construction of a building.

According to the former US president, the Fed Board of Governors has completely destroyed the beauty and historical value of the building. He places sole blame for this on Jerome Powell.

• Trump demands the immediate resignation of the Fed chair due to incompetence in project management
• A proposal has been made to file a serious lawsuit against Powell for corruption or negligence
• Powell's term as a member of the Board of Governors expires on January 31, 2028

If the Fed Chair does not resign voluntarily, Trump suggested that the US government file a lawsuit against him. Grounds could include accusations of corruption or extreme incompetence.

Despite current calls for his resignation, Jerome Powell continues to serve as Fed Chair. However, his term as a member of the Board of Governors is limited and will end in early 2028.