Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.

In a renewed political maneuver, President Donald Trump targets Federal Reserve Chairman Jerome Powell over a costly renovation project. The $2.5 billion expenditure on the Fed's headquarters has become a focal point in Trump's demand for Powell's resignation and a push for lower interest rates,

President Donald Trump said Jerome Powell should “resign immediately” if allegations from an administration official that the Federal Reserve chair misled lawmakers prove true, while deepening his personal attacks against the head of the central bank over interest rate policy.