US President Donald Trump has intensified his attacks on Federal Reserve Chair Jerome Powell, calling for his immediate resignation in a sharply worded social media post that adds pressure on the central bank leadership.

In a message posted on his Truth Social platform, Trump wrote: "'Too Late' should resign immediately!!!" He attached a link to a news article about a US housing official urging Congress to investigate Powell over his recent testimony concerning costly renovations at the Fed's Washington headquarters.

Although Trump nominated Powell during his first term in office, he has frequently criticised him for not slashing interest rates. The president wants the Federal Reserve to lower rates to stimulate economic growth.

However, it remains unclear whether Trump has the legal authority to remove Powell from office.

Trump's latest outburst follows remarks made by Powell during a central bankers’ meeting in Portugal. When asked whether the Fed would have cut rates this year were it not for the administration’s aggressive tariff plans, Powell responded, “I think that’s right.”

Earlier this year, Trump had stated he had "no intention of firing him," despite his dissatisfaction with Powell’s handling of interest rates. Meanwhile, Powell has said he would not resign if asked to do so by the president and insisted that “it is not permitted under law” for the White House to force him out of office.

Under US law, heads of independent federal agencies like the Federal Reserve cannot be removed before the end of their term unless it is "for cause." This legal standard stems from a landmark Supreme Court ruling issued in 1935.

Still, Trump has previously fired other independent officials, actions that have later ended up in legal disputes.

The Federal Reserve declined to comment when contacted about Trump’s latest remarks.

Trump’s renewed push against Powell comes after Federal Housing Finance Agency director Bill Pulte, who has previously criticised Powell, also called for an investigation.

On Wednesday, Pulte posted on X, formerly Twitter, “I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed 'for cause’.”

Last week, Powell had defended the Fed’s renovation spending while testifying before the Senate. He said that news reports portraying ballooning costs and lavish features were “misleading and inaccurate in many, many respects.”