The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

Wall Street cautions against firing Powell, Nvidia's geopolitical balancing act pays off, and banks score an 'A' from investors on Q2 earnings

In 1997, billionaire Carlyle co-founder David Rubenstein hired a then-relatively unknown member of the George H.W. Bush administration named Jerome Powell. Over the course of eight years, Powell led the private equity firm's industrial group and was a partner.

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

On July 16, Rep. Anna Paulina Luna (R-FL) retweeted "confirmed" in a post by journalist Breanna Morello alleging that Federal Reserve Chair Jerome Powell would be fired. Morello's post claimed that Congresswoman Luna had earlier said, "Fed Chair Jerome Powell's firing is imminent."

Jerome Powell has been the Federal Reserve Chair since February 2018. Trump nominated Powell in 2017, but now calls for him to resign. Bessent is

His comments follow President Donald Trump’s intensified criticism of Federal Reserve Chairman Jerome Powell, accusing him of undermining the US economy with high interest rates, while simultaneously unveiling sweeping new tariffs targeting Canada, the European Union, Mexico, and Brazil.

President Trump and his allies have accused the Federal Reserve chair, Jerome Powell, of misleading Congress in what some legal scholars worry is a prelude to seeking his removal.