Jerome Powell has agreed to step down as chair of the Federal Reserve following relentless attacks from President Trump and his inner circle, according to a statement released by Billy Pulte, the current head of the U.

A dispute over the Federal Reserve’s renovation of its headquarters could provide the pretext to attempt the removal of Fed chief Jerome Powell over interest-rate disagreements.

Office of Management and Budget Director Russell Vought accused Federal Reserve Chair Jerome Powell on Thursday of an “ostentatious” overhaul of the independent agency’s fiscal headquarters amid an increasingly aggressive campaign by President Trump to get Powell to step down from the job.

A broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war of words against Powell.