Trump says Fed's Powell should resign immediately

US President Donald Trump

US President Donald Trump said on Tuesday that Federal Reserve Chair Jerome Powell should resign immediately if it is proven that he misled Congress.

Trump made clear that misleading Congress should be grounds for Powell's immediate dismissal, describing the Fed Chairman as a "rude, terrible person."

On July 2, Federal Housing Finance Authority Chairman Bill Bolton called on Congress to investigate Powell for allegedly misleading lawmakers in testimony before the Senate regarding plans to renovate the central bank's headquarters.

Trump continues his personal attacks on the Fed Chairman, alleging that he has unjustifiably delayed cutting interest rates. He has stated in several previous public statements that prices have declined and that maintaining tight monetary policy raises the government's borrowing costs.