Despite having nominated him in 2017, President Donald Trump has long had an acrimonious relationship with Federal Reserve Chairman Jerome Powell.

That relationship has continued to sour, with the president suggesting this week that Powell should submit his resignation. 

Trump calls on Powell to "resign immediately"

According to The Hill, Trump's message came in the form of a Truth Social post which read, "Too Late’ should resign immediately!!!"

The website explained that "Too Late" is a nickname which Trump has recently begun applying to the federal reserve chairman. What's more, it noted that the president also linked to a Bloomberg News article which was published on Wednesday.

The piece detailed testimony provided to the Senate Banking Committee last week by Federal Housing Finance Agency (FHFA) Director Bill Pulte.

Pulte, who oversees Fannie Mae and Freddie Mac, accused Powell of lying to lawmakers during his own appearance before the Senate Banking Committee in June.

FHFA director calls for an investigation of Powell

Specifically, Pulte alleged that Powell did not honestly address questions concerning renovations to the Fed’s headquarters in Washington, D.C.

Bloomberg noted that Pulte later reiterated his position in a statement posted to social media, writing, "I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed 'for cause.'"

U.S. Federal Housing and the Fannie Mae and Freddie Mac Chairman Calls on Congress to Investigate Jerome Powell pic.twitter.com/E6P9MobJOa

— Pulte (@pulte) July 2, 2025

"Jerome Powell's $2.5 B Building Renovation Scandal stinks to high heaven, and he lied when asked about the specifics before Congress," Pulte continued. "This nothing short of malfeasance and is worthy of 'for cause.'"

Trump floated idea of firing Powell last month

Trump's latest barrage against Powell came just weeks after he publicly mused about firing the Federal Reserve chairman in an earlier Truth Social post.

"I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I’ve tried it all different ways. I’ve been nice, I’ve been neutral, and I’ve been nasty, and nice and neutral didn’t work," Just the News quoted Trump as writing on June 20.

"We have virtually no Inflation, our economy is doing really well, and will soon be doing, with the tremendous Tariff Income coming in, and Factories being built all over the Country, better than it has ever done before," the president asserted.

"I don’t know why the Board doesn’t override this Total and Complete Moron. Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly," Trump added.