💨 Abstract

Some Republican senators are warning against President Trump's potential dismissal of Federal Reserve Chair Jerome Powell, fearing it would undermine the Fed's independence and economic stability. Thom Tillis and Sen. Mike Rounds advocated for Powell, highlighting the risks of political influence on the Fed. Despite Republican support, others like Sen. Bernie Moreno and Trump have agreed Powell should resign. The legality of firing Powell is also questioned, with calls for his ouster deemed politically and legally risky.

Courtesy: WTOP Staff