Fannie Mae Chairman and Director of the Federal Housing Finance Agency Bill Pulte released a statement calling on Congress to investigate Powell. Pulte suggested that Powell should vacate his role at the Fed because of multibillion-dollar plans to renovate the Federal Reserve building and comments to Congress regarding the upgrades.

Donald Trump, in a social-media post, said Fed chairman Jerome Powell should “resign immediately.” It was an escalation of his public complaints about Powell, who Trump believes is keeping interest rates high for no reason.

Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.