US Federal Reserve chair Jerome Powell is mulling resignation as pressure mounts for scrutiny into whether he was truthful to Congress about the Fed's 'Palace of Versailles' renovation to its headquarters in Washington,

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is gaining some key backing on Capitol Hill from GOP senators who fear the repercussions if President Donald Trump follows through with threats to try and remove the politically independent central banker.

President Trump expressed a desire to see Federal Reserve Chair Jerome Powell resign, indicating that directly removing him could disrupt markets. The comments were made in an interview with the Real America's Voice network,

US President Donald Trump denied reports that he plans to fire Federal Reserve Chair Jerome Powell, calling them untrue but adding he wouldn’t rule it out unless there’s “fraud.”

President Trump denied reports that he plans to fire Fed Chair Jerome Powell, but he continued to sharply criticize the head of the central bank.

Treasury Secretary Scott Bessent and National Economics Council Director Kevin Hassett have emerged as possible contenders to replace him.

Carlyle co-founder and the owner of the Baltimore Orioles, David Rubenstein, defended the job under beleaguered Federal Reserve Chairman Jerome Powell.