President Donald Trump is calling for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell.

The resignation comes as President Trump has openly pressured the central bank to lower interest rates and called for Jerome H. Powell, the chair, to step down.

Trump has launched a series of scathing attacks on Powell over his refusal to reduce interest rates. The president claimed that the central banker is "TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair" in a post on his Truth Social website on Thursday.