Informed sources: Trump has drafted a letter to fire Federal Reserve Chairperson Jerome Powell
2025-07-16 15:31:02
On July 16, according to the New York Times, two people familiar with the matter said that during a meeting with about a dozen House Republicans on Tuesday night local time, < b > Trump showed a draft letter to fire Federal Reserve Chairperson Jerome Powell and asked them for their opinions, asking if they should do so, which Trump said he would likely do. It remains to be seen whether Trump will actually try to fire Powell, with some in the Trump administration warning that the move could have disastrous consequences that would be broader than the president expected. Trump has been calling for Powell to resign in recent weeks, but as recently as last Friday, Trump said he had no plans to fire Powell despite his "abysmal" performance. Some of Trump's advisers and allies have also insisted that he was just teasing Powell in hopes of torturing the Federal Reserve chairperson, but would not actually try to fire him. < b > But the existence of the letter, and Trump's interest in discussing it, suggests it is taking the kind of action he would normally take before finally making a big decision.
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