US Federal Reserve chair Jerome Powell is mulling resignation as pressure mounts for scrutiny into whether he was truthful to Congress about the Fed's 'Palace of Versailles' renovation to its headquarters in Washington,

Fed Chair Powell faces resignation rumors amid White House accusations he misled Congress about the US Fed's $2.5 billion HQ renovation and resisted rate cuts.

If the central bank was more willing to lower interest rates, prices could rise and make lenders demand higher compensation to hold bonds

Fannie Mae and Freddy Mac Chairman William Pulte issued a similar statement amid reports that Powell was considering his resignation.

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

The S&P 500 declined 0.3% Friday afternoon following a social media post by William J. Pulte claiming Federal Reserve Chairman Jerome Powell is considering stepping down.

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

President Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, and that the Fed “has a lot to answer for” on renovation cost overruns at its Washington headquarters.