President Trump entertained the idea of firing Jerome Powell, the Federal Reserve Chairman, during a meeting with House Republicans. He presented a draft letter to them while also discussing Powell's performance, expressing his disdain for the Chairman whom he appointed in 2017. Although Trump suggested he might fire Powell, he later stated it was unlikely unless tied to fraudulent behavior. Amid these speculations, bank leaders emphasized the need for the Fed's autonomy to preserve economic stability.
Federal Reserve Chairman Jerome Powell faced uncertainty as President Trump considered firing him, revealing an ongoing tension regarding the Fed's policies and its leadership.
During a meeting with House Republicans, President Trump displayed a draft letter for firing Powell, polling their opinions on the matter.
The president commented on Powell, stating he doesn't rule out firing him but considers it highly unlikely unless Powell leaves for fraud.
Leaders of major American banks stressed the importance of the Federal Reserve's independence amidst the swirling confusion regarding Trump's thoughts on Powell.
Collection
[
|
...
]