A spokesperson for the inspector general, an independent watchdog, confirmed the request and declined further comment. The request was previously reported by CNBC.
The letter represented a sharp escalation in the Trump administration’s efforts to gain greater control over the Fed, an independent agency charged with seeking stable prices and maximum employment. Independence from day-to-day politics has long been seen as a critical element in the Fed’s ability to achieve those goals.
Trump has repeatedly demanded that Powell cut the short-term interest rate that the central bank controls, in part because the president believes it will lower the government’s borrowing costs.
Trump and some of his officials have encouraged Powell to resign, though there is no indication he will leave before his term ends next May.
