President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.

Deputy Treasury Secretary Michael Faulkender told Yahoo Finance he would like to see Federal Reserve Chairman Jerome Powell step down from the central bank's Board of Governors after his term as chair ends next May.

Also in today’s newsletter, Reeves puts reform of UK cash ISAs on hold and Google is to agree cloud discount with US government

A senior Trump administration official said Friday that Fed Chair Jerome Powell is “considering resigning” as pressure grows for an investigation into whether he lied to Congress about the central bank’s “Palace of Versailles” renovations to its headquarters in Washington, DC.

In a response to Fortune, Federal Reserve Bank of St. Louis President Alberto Musalem defended the Fed's autonomy, citing global evidence that independent central banks deliver stronger inflation and employment outcomes.

Russell Vought, OMB director, joins 'Squawk Box' to discuss the director's thoughts on Jerome Powell's management of the Federal Reserve.