Press Release: Congressman Abraham Hamadeh Calls for Resignation of Federal Reserve Chairman Jerome Powell

Quiver AI Summary

On July 14, 2025, Congressman Abraham Hamadeh (AZ-08) publicly called for the resignation of Federal Reserve Chairman Jerome Powell, citing "gross mismanagement" of the Federal Reserve’s headquarters renovation project, which he claimed is over budget by $700 million at a total cost of $2.5 billion. Hamadeh's statements about Powell also included accusations of an "apparent lack of candor" and a failure to adequately assess the impacts of tariffs enforced under the previous administration, arguing that these issues have adversely affected young families seeking home ownership.

In his remarks, Congressman Hamadeh stated, “My call for Chairman Powell’s resignation does not come lightly nor without good cause,” referencing concerns raised by Office of Management and Budget Director Russell Vought regarding the renovation project. He further expressed that, according to White House economic adviser Kevin Hassett, President Trump has the authority to remove Powell for cause but suggested that it would be preferable for Powell to resign voluntarily to serve “the good of the country.” Hamadeh's letter to Powell is available for public viewing.