US President Donald Trump said that former Federal Reserve Chairman Jerome Powell should resign from the Federal Reserve Board of Governors in view of the investigation of poor management of the Federal Reserve headquarters renovation project. Trump posted on social media on Wednesday: “This building's budget is being overspent at a record rate. In any case, at least 'Mr Too Late' should be forced to resign from the council.” Trump's remarks came after the Federal Reserve's internal oversight body released a report on Wednesday. The report said that in the $2.4 billion project, no evidence of criminal offenses was found, and no “administrative misconduct” was discovered. Despite this, the report cites a series of management mistakes that caused the project cost to rise sharply from the initial estimate of $1.3 billion in 2020. Trump said he has instructed Attorney General Todd Blanche to study the Inspector General's report and “decide what to do next.”

US President Donald Trump said that former Federal Reserve Chairman Jerome Powell should resign from the Federal Reserve Board of Governors in view of the findings of the mismanagement of the Federal Reserve headquarters renovation project. Trump posted on social media on Wednesday: “This building's budget is being overspent at a record rate. In any case, at least 'Mr Too Late' should be forced to resign from the council.” Trump's remarks came after the Federal Reserve's internal oversight body released a report on Wednesday. The report said that in the $2.4 billion project, no evidence of criminal offenses was found, and no “administrative misconduct” was discovered. Despite this, the report cites a series of management mistakes that caused the project cost to rise sharply from the initial estimate of $1.3 billion in 2020. Trump said he has instructed Attorney General Todd Blanche to study the Inspector General's report and “decide what to do next.”