On Monday, Congressman Abraham Hamadeh from Arizona’s 8th District called for the resignation of Federal Reserve Chairman Jerome Powell. The congressman cited “gross mismanagement” of the Federal Reserve’s headquarters renovation project and an apparent lack of candor as reasons for his call.
“My call for Chairman Powell’s resignation does not come lightly nor without good cause,” stated Congressman Hamadeh. He referred to revelations by Office of Management and Budget Director Russell Vought about the $2.5 billion overhaul being $700 million over budget.
Hamadeh expressed concern that Powell’s actions have made home ownership cost prohibitive for young families while taxpayers bear the burden of the renovations. “Aside from the burden you have placed on taxpayers, who must foot the bill for your frivolous fabrications, you have failed to properly assess the impact of President Donald Trump’s tariff policy,” wrote Congressman Hamadeh.
The congressman also noted that contrary to Powell’s predictions, increased tariff collections are improving government finances with a $27 billion budget surplus reported in June 2025 by the U.S. Treasury Department.
“White House economic adviser Kevin Hassett has said that President Trump has the authority to fire Chairman Powell for cause,” stated Congressman Hamadeh. “It shouldn’t have to come to that.”
Read Congressman Hamadeh’s letter here.
