The U.S. Federal Housing Finance Agency released a statement on 11 July indicating that Federal Reserve Chair Jerome Powell is considering resigning, according to several outlets that cited the agency. The note offered no timetable and the Federal Reserve has not confirmed the report. Bill Pulte, chairman of the board of mortgage giants Fannie Mae and Freddie Mac, said in the same statement he was "encouraged" by the prospect of Powell’s departure, arguing it would be "the right decision for America" and spur economic growth. The development follows months of political pressure led by former President Donald Trump and some Republican lawmakers, who have criticized Powell for keeping interest rates elevated in the face of persistent inflation and have publicly urged him to step down. Powell’s current term as Fed chair runs through 2026.