Federal Reserve Chairman Jerome Powell's potential resignation: A Trump administration official's claim.

Federal Housing Finance Agency Director Bill Pulte has suggested that Federal Reserve Chair Jerome Powell is considering resigning, citing reports that he believes will be a "right decision for America" and lead to economic growth. However, the Fed has declined to comment, citing Powell's previous statements that he intends to serve out the remainder of his term.

Federal Housing Finance Agency Director Bill Pulte has suggested that Federal Reserve Chair Jerome Powell is considering resigning, citing reports that he believes will be a "right decision for America" and lead to economic growth. However, the Fed has declined to comment, citing Powell's previous statements that he intends to serve out the remainder of his term.

The rumors of Powell's resignation gained traction following a series of public attacks from President Donald Trump and his allies. Trump has repeatedly called for Powell's resignation, accusing him of mismanagement and political bias. The latest round of attacks was sparked by a $2.5 billion renovation of the Federal Reserve's Washington, D.C. headquarters, which Trump's administration has criticized as excessive [2].

Powell has maintained that the renovation is necessary to update the building's infrastructure and that reports of extravagant spending are false. He has also stated that he intends to serve out the remainder of his term, which extends until May 2026 [3].

The Federal Reserve, an independent entity, operates autonomously based on its own analyses of fiscal matters. While the President nominates the board members and Congress confirms them, the board is meant to operate independently. Rate decisions are decided through a majority vote by the Fed's Board of Governors, not any single member, including the chair [3].

The ongoing pressure on Powell has sparked speculation about his future at the helm of the Federal Reserve. However, the Fed has not commented on the rumors, and Powell has maintained his intention to serve out his term. The crypto community, keenly watching the developments, faces uncertainty as the coalition challenges Powell's future and the Fed's independence [3].

References:
[1] https://www.hindustantimes.com/world-news/us-news/jerome-powell-resigning-after-latest-fomc-cuts-heres-the-truth-101752086240125.html
[2] https://www.cryptopolitan.com/fed-chair-jerome-powell-agrees-to-resign/
[3] https://finance.yahoo.com/news/jerome-powell-days-federal-chair-162240539.html