President Trump has called for Federal Reserve Chair Jerome Powell's resignation if allegations of misleading testimony about the cost of Fed headquarters renovations are confirmed.
Trump is considering potential replacements for Powell amidst accusations of bias in policy decisions and failure to cut interest rates.
Allegations against Powell include misleading Congress about the $2.5 billion Fed renovation costs, prompting calls for his immediate resignation.
Trump has a shortlist of contenders, including Treasury Secretary Scott Bessent, Kevin Hassett, and Michelle Bowman, for the Fed Chair position.