Rep. Hamadeh Calls for Fed Chair Powell's Resignation

Rep. Abe Hamadeh, R-Ariz., has joined President Donald Trump in urging Federal Reserve Chair Jerome Powell to resign.

"My call for Chairman Powell's resignation does not come lightly nor without good cause," Hamadeh wrote in a statement after issuing a letter Monday directly to Powell.

"Considering the recent revelations by Office of Management and Budget Director Russell Vought about Chairman Powell's gross mismanagement of the Federal Reserve's headquarters renovation project, and his apparent lack of candor before the Senate Banking Committee, neither does my call come too soon."

Hamadeh's letter to Powell called out that the "ostentatious" $2.5 billion overhaul of the Federal Reserve's campus is $700 million over budget.

"Aside from the burden you have placed on taxpayers, who must foot the bill for your frivolous fabrications, you have failed to properly assess the impact of President Donald Trump's tariff policy," Hamadeh wrote in the letter shared on X by his congressional office. "Contrary to your predictions, increasing tariff collections are helping improve government finances with the U.S. Treasury Department posting a $27 billion budget surplus in June 2025."

Trump has thus far resorted to public calls for interest rate deductions to save Americans hundreds of billions on outstanding debt, resisting urges to just fire the Federal Reserve chair he once hired in his first administration at the urging of former Treasury Secretary Steven Mnuchin's recommendation – which he has now vehemently rebuked.

"White House economic adviser Kevin Hassett has said that President Trump has the authority to fire Chairman Powell for cause," Hamadeh added in his statement Monday, announcing the letter. "It shouldn't have to come to that.

"Chairman Powell needs to accept the fact that his political game playing has led to harmful failures and step down for the good of the country."

Regardless of the urgings, Powell's time as chair of the Federal Reserve Board expires next year.

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