Jerome Powell has agreed to step down as chair of the Federal Reserve following relentless attacks from President Trump and his inner circle, according to a statement released by Billy Pulte, the current head of the U.

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.”

As the minutes of the Federal Reserve’s June meeting were released on Wednesday, the word “uncertainty” reigned supreme amid the ongoing tariff turmoil and President Donald Trump‘s call to cut rates by 3 percentage points.

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

President Donald Trump ousted Joe Biden’s appointees to the National Capital Planning Commission, the obscure panel that oversees urban planning for the Washington area. And instead of the usual wonky architecture types,

Treasury Secretary Scott Bessent and National Economics Council Director Kevin Hassett have emerged as possible contenders to replace him.

There’s no VIP dining room, there’s no new marble. There are no special elevators,” Powell insisted under questioning from the powerful panel on Wednesday.