President Donald Trump on Wednesday called for Federal Reserve Chair Jerome Powell to step down after the head of Fannie Mae and Freddie Mac demanded Congress launch an investigation into Powell’s recent testimony to lawmakers. “‘Too Late’ should resign immediately!!!” Trump wrote on Truth Social, using his nickname for Powell.

Sarah Wolak is a mortgage reporter at HousingWire. Previously, she was a writer at National Mortgage Professional, where she produced podcasts, anchored news segments, and contributed to several trade publications. Her work has also appeared in Modern Luxury, Voice of America, and The Day Publishing Company. see full bio

The president has been angry with Powell over the U.S. central bank's hesitance to succumb to his demand for lowering interest rates.