White House deputy chief of staff James Blair will visit the renovation site at the Federal Reserve's headquarters amid President Donald Trump's concerns with the projects cost overruns.

A fake resignation letter generated by AI fooled Utah Senator Mike Lee into thinking that Jerome Powell, chair of the Federal Reserve, had quit on Tuesday. The senator tweeted and deleted the fake letter from his personal “basedmikelee” account, which staffers have confirmed that Lee operates directly.

The letter surfaced as President Donald Trump has bludgeoned the Federal Reserve chairman Powell with criticism over his refusal to cut interest rates.

The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege.

Former Commerce Secretary Wilbur Ross believes that President Donald Trump attempting to unseat Federal Reserve Chair Jerome Powell would result in a lengthy legal battle and few benefits for the president.

Trump ally Rep. Anna Paulina Luna claims Federal Reserve Chairman Jerome Powell committed perjury during Senate testimony and in communications with the Office of Management and Budget.

President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.