President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

William Pulte, Chairman of the Board of Fannie Mae and Freddie Mac, said on July 11, “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.”

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.

Also in today’s newsletter, Reeves puts reform of UK cash ISAs on hold and Google is to agree cloud discount with US government

Deputy Treasury Secretary Michael Faulkender told Yahoo Finance he would like to see Federal Reserve Chairman Jerome Powell step down from the central bank's Board of Governors after his term as chair ends next May.

Fueling speculation, Bill Pulte—chair of government-backed lenders Fannie Mae and Freddie Mac—claimed in a post on X that Powell may not finish his term. Pulte has repeatedly called for Powell’s resignation,

The White House financial watchdog ripped Federal Reserve Chair Jerome Powell over a lavish revamp of the central bank’s Washington, DC headquarters — and warned construction could be