WATCH: President Trump said he was "surprised" that Powell had been nominated to be chair of the Federal Reserve. "I was surprised he was appointed," Trump said. "I was surprised, frankly, that Biden put him in and extended him.

Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.

A Federal Reserve governor seen as a candidate to succeed Chair Jerome Powell laid out his strongest case yet for a rate cut this month, aligning himself with President Trump's demands that the central bank lower interest rates.