President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.

President Trump is putting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, and has been critical of the Fed's $2.5 billion office renovation.

Donald Trump's budget chief accused Jerome Powell of shooting over the budget to renovate the Fed's headquarters by roughly $700 million.

Fueling speculation, Bill Pulte—chair of government-backed lenders Fannie Mae and Freddie Mac—claimed in a post on X that Powell may not finish his term. Pulte has repeatedly called for Powell’s resignation,