A senior Trump administration official said Friday that Fed Chair Jerome Powell is “considering resigning” as pressure grows for an investigation into whether he lied to Congress about the central bank’s “Palace of Versailles” renovations to its headquarters in Washington, DC.

The coalition against Powell appears to be growing by the day. The director of the Federal Housing Finance Agency (FHFA), Bill Pulte, has accused the chairman of political bias and called for a congressional investigation into his leadership.

Bill Pulte, who oversees Fannie Mae and Freddie Mac, applauded chatter stating Federal Reserve chair Jerome Powell would soon depart from his position. “I’m encouraged by reports that Jerome

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,

President Trump and his lieutenants have been bullying Federal Reserve Chair Jerome Powell for months over the Fed's reluctance to lower interest rates. But even if that campaign is successful, the president may not really get what he wants.

The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

Reports that President Trump was planning to fire Federal Reserve Chairman Jerome Powell sent stocks and the U.S. dollar tumbling on Wednesday, while long-dated Treasury yields charged higher.