US President Donald Trump's chief economic adviser called on former Federal Reserve Chairman Jerome Powell to leave the Federal Reserve Board of Governors after an internal report from the Federal Reserve indicated management errors in its headquarters renovation project. When asked on Fox News Sunday Morning Futures if Powell should resign, White House National Economic Council Director Kevin Hassett said, “I think it's time for him to leave, and it's time to respect the independence of the Federal Reserve.” The Federal Reserve's internal oversight agency said in a report on September 30 that it found no evidence of criminal offenses and did not determine any “administrative misconduct” related to this $2.4 billion renovation project. However, the report indicated that management flaws were part of the reason why the cost of the project nearly doubled compared to the initial budget. Trump later posted on social media that Powell “should have been forced to resign from the council.” Trump continuously pressured Powell to cut interest rates during his time as Chairman of the Federal Reserve.

US President Donald Trump's chief economic adviser called on former Federal Reserve Chairman Jerome Powell to leave the Federal Reserve Board of Governors after an internal report from the Federal Reserve indicated management errors in its headquarters renovation project. When asked on Fox News Sunday Morning Futures if Powell should resign, White House National Economic Council Director Kevin Hassett said, “I think it's time for him to leave, and it's time to respect the independence of the Federal Reserve.” The Federal Reserve's internal oversight agency said in a report on September 30 that it found no evidence of criminal offenses and did not determine any “administrative misconduct” related to this $2.4 billion renovation project. However, the report indicated that management flaws were part of the reason why the cost of the project nearly doubled compared to the initial budget. Trump later posted on social media that Powell “should have been forced to resign from the council.” Trump continuously pressured Powell to cut interest rates during his time as Chairman of the Federal Reserve.