GOP's Hamadeh calls on Fed Chairman Jerome Powell to resign

Rep. Abe Hamadeh, R-Ariz., on Monday joined a growing chorus of lawmakers and administration officials in demanding the resignation of Jerome Powell as chairman of the Federal Reserve.

Hamadeh made his position known in direct letter to Powell, which he made public in an X post. Hamadeh pointed to what he called Powell's "gross mismanagement of the Federal Reserve's headuqarters renovation project, you apparent lack of candor, your failure to accurately assess the effects of tariffs, and your refusal to lower interest rates for the good of the nation in a timely manner."

His criticisms come as President Donald Trump increasingly complains of Powell's unwillingness to lower interest rates despite strong jobs growth and low inflation.

Last week, Fannie Mae and Freddy Mac Chairman William Pulte issued a similar statement amid reports that Powell was considering his resignation.

"I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom," he said.