WASHINGTON – U.S. Sen. Rick Scott, R-Fla., is looking on Federal Reserve Chairman Jerome Powell to resign.
“Jay Powell owes each American solutions,” Scott stated in a submit on his X account. “Why does his luxurious $2.5 BILLION HQ renovation value greater than an NFL stadium, a luxurious resort, or a skyscraper?! It makes NO SENSE.”
Jay Powell owes each American solutions: why does his luxurious $2.5 BILLION HQ renovation value greater than an NFL stadium, a luxurious resort, or a skyscraper?!
It makes NO SENSE. pic.twitter.com/1RM2KW0vE1
— Rick Scott (@SenRickScott) July 17, 2025
In one other submit, Scott went additional and referred to as for Powell to resign.
“Jay Powell must resign. He’s failed,” Scott wrote. “Every little thing he’s touched… he’s shedding cash yearly… no accountability… Jay Powell’s bought to go away. He ought to depart at this time.”
President Donald Trump additionally weighed in, saying he’s “not planning” to fireside Powell however left open the likelihood if fraud have been found in reference to the challenge—which he known as a $2.7 billion renovation.
“I don’t rule out something, it’s extremely unlikely, until he has to go away for fraud,” Trump advised reporters. “It’s doable there’s fraud concerned with the $2.7 billion renovation.”
Trump has been a frequent and vocal critic of Powell, significantly over the Federal Reserve’s rate of interest insurance policies. He reiterated his long-standing view that Powell has been “too late” in slicing rates of interest, contrasting the U.S. central financial institution’s strategy with that of Europe.
“He’s at all times been too late—therefore his nickname, Too Late,” Trump stated. “He ought to have minimize rates of interest a very long time in the past. Europe has minimize them 10 instances in a brief time frame, and we minimize them none.”
He accused Powell of trying to affect the 2024 election by slicing charges simply previous to it, an effort he deemed unsuccessful.
The president maintained that Powell is “costing us some huge cash” by protecting rates of interest elevated, arguing that charges needs to be “three factors decrease” to avoid wasting the nation “a trillion {dollars}” in curiosity.
“He’s a horrible Fed chair. I used to be shocked he was appointed,” the president stated. “I used to be shocked, frankly, that Biden put him in and prolonged him. However they did. So no, we’re not planning on doing something. We’re very involved.”
Whereas expressing dissatisfaction with Powell’s efficiency, Trump emphasised considerations in regards to the renovation itself. He cited an almost $900 million value overrun on the challenge, which he referred to as “a disgrace.”
Trump stated “fortuitously,” his administration will get to make a change within the subsequent eight months and stated they’ll “decide anyone that’s good.”
“I simply desire a truthful job. We need to see decrease rates of interest. Our nation deserves it,” Trump stated.
🚨 JUST IN: President Trump says he’s “not planning” to fireside Jerome Powell following studies saying he’s contemplating it, however says it may occur if Powell dedicated “FRAUD” underneath the $2.7B renovation
“I do not rule out something, it is extremely unlikely, until he has to go away for… pic.twitter.com/1DnLIstKiB
— Eric Daugherty (@EricLDaugh) July 16, 2025
