Trump keeps "hounding" Powell! Trump demands he resign from the Fed Board of Governors, claiming the headquarters renovation costs are severely over budget.

U.S. President Donald Trump on Wednesday demanded that former Federal Reserve Chairman Powell resign from his position as a Fed governor, after an inspector general's report on the Fed's headquarters renovation project identified a series of project management problems that led to significant cost overruns. However, the investigation did not find criminal wrongdoing in the project. Trump said in a social media post on Wednesday that the Fed headquarters renovation project was "severely over budget" and said Powell "should at least be forced to resign from his position as a Fed governor." Trump also said he had asked Attorney General Todd Blanche to study the inspector general's report and "decide what action should be taken." Trump subsequently further blamed Powell for the problems with the renovation project, saying Powell should resign "immediately" and that if Powell refused to resign, the U.S. government should consider taking legal action against him on grounds of "corruption or incompetence." The above statements are all Trump's own allegations regarding Powell and responsibility for the project. Trump's latest remarks come against the backdrop of an investigation by the Fed's watchdog into the headquarters renovation project. According to reports, the inspector general's report pointed out that the Fed had multiple deficiencies in project oversight and management, and these problems led to cost overruns of about $1 billion in the renovation of two historic buildings near the National Mall in Washington. However, the investigation did not find criminal wrongdoing in the renovation project. The Fed headquarters renovation project has continued to draw criticism from Trump in recent years. During Powell's tenure as Fed chairman, in addition to repeatedly publicly attacking Powell over monetary policy, Trump also made the issue of the headquarters renovation costs one of his main topics of criticism against Powell. The central bank has previously said that the project involves a large-scale renovation of two historic buildings, requires handling hazardous materials such as asbestos and lead, and must meet modern safety and building standards, and said the related costs were affected by multiple factors. The conflict between Trump and Powell had previously centered mainly on monetary policy. Trump repeatedly demanded that the Fed lower interest rates and publicly criticized Powell's policy decisions. Powell's term as Fed chairman ended in May of this year, and Warsh took over as chairman after Senate confirmation. However, Powell did not leave the Fed as a result, but continued to serve as a Fed governor, with his governor term set to expire in 2028. Trump's demand this time for Powell to resign from his governor position means that the long-running dispute between the two sides over monetary policy and the Fed headquarters renovation project has still not ended after Powell stepped down as chairman. The latest inspector general's report pointed out problems in oversight and cost management in the renovation project, but did not find criminal wrongdoing. Trump, meanwhile, continues to demand that Powell be held accountable and has asked the Justice Department to study the report before deciding whether to take further action.