President Donald Trump's attempt to correct former President Joe Biden's failing U.S. economy is going well on many fronts, except one of the most important -- the federal interest rate.

According to Fox Business, there are now growing calls within the Trump administration for Federal Reserve System Board of Governors Chair Jerome Powell to resign if he continues to refuse to lower interest rates. 

Many, including U.S. Federal Housing Finance Agency Director William Pulte, believe that Trump has already "crushed" inflation, and it's up to Powell to adjust rates downward to capitalize on the progress.

Pulte made it clear this week that he believes Powell should resign if he refuses to "lower interest rates today," arguing that his refusal to do so in recent months has only served to hurt the already hurting U.S. consumer.

What happened?

In a bombshell post on Wednesday to his X account, Pulte made his feelings on the matter crystal clear, demanding that Powell submit his resignation for refusing to lower interest rates and provide consumers some relief.

"Because President Trump has crushed inflation, Fed Chairman Jerome Powell needs to lower interest rates today, and if not Chairman Powell needs to resign, immediately. Fannie Mae and Freddie Mac can help so many more Americans if Chair Powell will just do his job and lower rates," Pulte wrote.

Because President Trump has crushed inflation, Fed Chairman Jerome Powell needs to lower interest rates today, and if not Chairman Powell needs to resign, immediately. Fannie Mae and Freddie Mac can help so many more Americans if Chair Powell will just do his job and lower rates.

— Pulte (@pulte) June 18, 2025

Pulte joins his boss, President Trump, and many other high-profile Republicans in demanding that interest rates begin coming down.

Fox Business noted:

But their calls once again went unheeded this week as a statement issued on Wednesday noted that the Federal Open Market Committee opted "to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent."

Social media reacts

Pulte definitely generated plenty of commentary over his post demanding Powell's resignation.

"I know at least 3 people in my life who want to buy a house, but didn't, because they didn't want to get locked in to Biden's insanely high interest rates. Lower the rates!" one X user wrote.

Another X user wrote, "Jerome Powell is going to push us into a recession if he does not start lowering rates."

Only time will tell if Powell finally begins lowering rates the next time around.