FHFA Director Bill Pulte calls on Fed Chair Powell to resign

FHFA Director Bill Pulte called for Federal Reserve Chairman Jerome Powell to resign today, shortly after President Trump urged Powell to cut the Fed funds rate by 2.5% in a social post.

This follows the Federal Reserve’s decision yesterday to keep the Fed Funds rate unchanged. Although Powell pointed out the challenges of finding a job right now, he said the Fed is not planning to cut rates anytime soon due to uncertainty regarding tariffs. This is despite the most recent Personal Consumption Expenditures (PCE) data showing headline inflation at 2.1% year-over-year. Read my take on that decision here.

As you can see below, the unemployment rate is at a level where the Fed said in 2024 would make them uncomfortable if it started to head higher.

The Fed admits…