White House Official Claims Trump Will Fire Jerome Powell Soon: Is This True?

President Trump reportedly discussed firing Federal Reserve Chair Jerome Powell with Republican lawmakers, even showing them a draft termination letter, according to The New York Times. A White House official confirmed the President's interest in dismissing Powell. However, Trump publicly stated that firing Powell was "highly unlikely." Other administration officials, like Treasury Secretary Scott Bessent, and some members of Congress, expressed doubt about the firing. Rep. Anna Paulina Luna claimed the firing was "imminent." Trump has criticized Powell's decisions and the Fed's operations since nominating him in 2018. Legal experts suggest that firing Powell without cause would be difficult and could lead to a legal battle, as presidents historically haven't fired Fed chairs.