{"id":1553,"date":"2025-07-16T16:42:27","date_gmt":"2025-07-16T16:42:27","guid":{"rendered":"https:\/\/retrotradingreport.com\/index.php\/2025\/07\/16\/president-trump-considers-firing-fed-chair-jerome-powell-soon-report\/"},"modified":"2025-07-16T16:42:27","modified_gmt":"2025-07-16T16:42:27","slug":"president-trump-considers-firing-fed-chair-jerome-powell-soon-report","status":"publish","type":"post","link":"https:\/\/retrotradingreport.com\/index.php\/2025\/07\/16\/president-trump-considers-firing-fed-chair-jerome-powell-soon-report\/","title":{"rendered":"President Trump considers firing Fed Chair Jerome Powell soon: report"},"content":{"rendered":"
<\/div>\n

US President Donald Trump is weighing whether to fire Federal Reserve Chair Jerome Powell, according to a Bloomberg report.<\/p>\n

The move would likely rattle financial markets and spark a major constitutional and legal battle.<\/p>\n

US stocks fell on Wednesday after reports of a possible firing made headlines.<\/p>\n

The S&P 500 declined 0.5%, hitting session lows late in the day. The Nasdaq Composite slid 0.6%, while the Dow Jones Industrial Average dropped 200 points, or 0.5%.<\/p>\n

A White House official confirmed to the business publication that Trump discussed the potential dismissal in a closed-door meeting with congressional Republicans on Tuesday evening. <\/p>\n

While several lawmakers expressed support, the official emphasised that no final decision has been made and the president could change his mind.<\/p>\n

The New York Times reported that President Donald Trump had gone as far as drafting a letter to dismiss Powell and even presented it to lawmakers during a recent meeting.<\/p>\n

The meeting came shortly after a number of Republican legislators voted against a cryptocurrency bill supported by the administration. <\/p>\n

The president reportedly aired his frustration with Powell\u2019s leadership at the Fed, particularly the central bank\u2019s stance on interest rates and recent building renovations.<\/p>\n

The reports follow comments made by Rep. Anna Paulina Luna (R-Fla.), who posted on social media that she was \u201chearing Jerome Powell is getting fired! From a very serious source.\u201d <\/p>\n

She followed up by saying, \u201cI\u2019m 99% sure firing is imminent.\u201d<\/p>\n

Ongoing frustration over monetary policy<\/h2>\n

Trump has long been critical of Powell, who was appointed to the Fed\u2019s top post in 2018 during Trump\u2019s first term. <\/p>\n

The president\u2019s displeasure has intensified in recent months, especially after the Fed opted to hold interest rates steady amid robust economic growth and persistent inflation concerns.<\/p>\n

Trump\u2019s allies have also taken aim at the cost of ongoing renovations at the Fed\u2019s historic headquarters in Washington, DC \u2014 a project the president described as \u201cpretty disgraceful\u201d and \u201cexorbitant.\u201d <\/p>\n

Speaking to reporters on Tuesday, Trump said, \u201cI think [the renovation] sort of is\u201d a fireable offense, though he stopped short of confirming Powell\u2019s removal.<\/p>\n

\u201cI think he\u2019s a total stiff,\u201d Trump added. \u201cBut the one thing I didn\u2019t see him as is the guy that needed a palace to live in.\u201d<\/p>\n

In response, Powell has defended the project and denied reports of financial mismanagement, recently asking the Federal Reserve\u2019s inspector general to formally review the renovation spending.<\/p>\n

Legal and market implications<\/h2>\n

The potential firing raises serious legal questions about the president\u2019s authority to remove the head of the US central bank. <\/p>\n

Powell and other Fed officials have maintained that the law provides limited protections to members of the Board of Governors, including the chair.<\/p>\n

\u201cWe\u2019re not removable except for cause,\u201d Powell said in April, referencing Section 10 of the Federal Reserve Act, which stipulates that governors can only be removed \u201cfor cause.\u201d <\/p>\n

Legal scholars interpret that clause as requiring proof of misconduct or neglect, not simple policy disagreement.<\/p>\n

Removing Powell without cause could set a precedent with implications for the Fed\u2019s independence, a key principle that underpins the central bank\u2019s ability to set monetary policy free from political interference.<\/p>\n

Powell\u2019s current term as Fed chair runs through May 2026. <\/p>\n

Any effort to remove him prematurely is likely to face legal challenges and intensify scrutiny of Trump\u2019s broader approach to US economic policy during his second term.<\/p>\n

The post President Trump considers firing Fed Chair Jerome Powell soon: report<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

US President Donald Trump is weighing whether to fire Federal Reserve Chair Jerome Powell, according to a Bloomberg report.The move would likely rattle financial markets and spark a major constitutional and legal battle.US stocks fell on Wednesday after reports of a possible firing made headlines.The S&P 500 declined 0.5%, hitting session lows late in the…<\/p>\n","protected":false},"author":1,"featured_media":1554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/posts\/1553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/comments?post=1553"}],"version-history":[{"count":0,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/posts\/1553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/media\/1554"}],"wp:attachment":[{"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/media?parent=1553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/categories?post=1553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/retrotradingreport.com\/index.php\/wp-json\/wp\/v2\/tags?post=1553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}