Rep. Anna Paulina Luna (R-FL) referred Federal Reserve Chairman Jerome Powell to the Department of Justice last Saturday on charges of perjury and making false statements. President Donald Trump and Republicans have targeted Powell for not lowering interest rates and the central bank’s lavish spending on its new headquarters.

Four potential Powell replacements have been shortlisted by the betting market. Here's who's in the running to be the next Fed Chair.

An examination of the Fed is necessary to determine why members have proved unable to “break out of a certain mindset,” Bessent said.

Warren added the next Fed chair will face a tough task proving they’re committed to central bank autonomy, as concerns grow that Trump may nominate someone more loyal to him than to economic principles.

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

As the Fed moved forward with plans to renovate its Great Depression-era headquarters in Washington during Trump’s first term, it faced concerns in 2020 during a vetting process involving Trump appointees, who called for more “white Georgia marble” for the facade of building.

"It doesn't occur to me in the slightest that there would be any situation in which I would not complete my term other than dying," Powell said in 2019.