💨 Abstract

President Trump briefly considered firing Federal Reserve Chair Jerome Powell but decided it was "highly unlikely," except in a hypothetical fraud scenario. This follows discussions with conservative House Republicans who advocated for Powell's removal due to interest rate policies and a controversial renovation project. Despite market fluctuations, Senate Republicans like Thom Tillis and John Kennedy expressed support for Powell's independence, warning against political interference with the Fed. A scheduled meeting with the House Financial Services Committee was canceled due to legislative votes.

Courtesy: WTOP Staff