President Donald Trump said Jerome Powell should “resign immediately” if allegations from an administration official that the Federal Reserve chair misled lawmakers prove true, while deepening his personal attacks against the head of the central bank over interest rate policy.

Trump's push to oust Jerome Powell over interest rates and Fed renovation costs highlights growing tensions around economic inequality and political control.

Donald Trump, in a social-media post, said Fed chairman Jerome Powell should “resign immediately.” It was an escalation of his public complaints about Powell, who Trump believes is keeping interest rates high for no reason.