Trump asked GOP legislator whether he should set Fed's Fed Chairman Jerome Powell, say sources

Washington – President Trump asked a group of the house on Tuesday if he should fire Chairman of the Federal Reserve Jerome Powell – and people in the room have expressed approval after several sources with direct knowledge. Some said Mr. Trump stated that he would do it.

On Tuesday evening, Mr. Trump gave the comments to the members of the Republican House in the Oval Office after blocking a procedural vote that had driven the cryptocurrency laws preferred by Mr. Trump in the House favored by Mr..

The idea of a president who removes a Fed chair is legally undestested – Federal Act states that the chairman can only be released for reasons of the matter. The measures could have serious negative effects on the financial markets.

Sources in the administration announced CBS News that the president has reduced the possibility of a feasible discharge into public and private remarks in social versions, but the White House has not yet set up a legal predicate.

The Trump administration has tried to increase the pressure on Powell, with Some administrative officials Publicly complained to the Fed to manage a billion-dollar project to poorly manage the Washington headquarters to renovate-a claim that Powell has pushed back.

For decades, the leaders of the Federal Reserve have been working with a high degree of independence of the rest of the government and enables them to make decisions about the nation's monetary policy with low input from politicians.

The MP from Florida, Anna Paulina Luna, one of the Republicans who voted against the progress of the crypto legislation, wrote on Tuesday evening in an X -Post: “Listening by Jerome Powell is released! From a very serious source.”

In a later post she wrote: “I am 99% sure that shooting is imminent.”

Several legislators in the oval session rejected a statement and said the discussion was privately. Spokesman for the White House did not immediately comment.

Some members of the House Financial Services Committee planned to meet Powell on Wednesday evening, said sources CBS News. Some members want to strengthen the independence of its role, said one of the sources.

The dissatisfaction of Mr. Trump with Powell and his view that the Federal Reserve is not fast enough to reduce interest rates has been a frequent topic of discussion for the president in recent weeks. Mr. Trump – who was first included in the role of the Fed's Fed Chair by Mr. Trump – “Lord too late”.

“I think he's terrible,” Mr. Trump told reporters on Tuesday. “You speak to the guy, it's like you are talking to you. It is like talking to a chair. No personality.”

“I think he's totally stiff. But the only thing I didn't see is a guy who needed a palace in which he can live,” he said, referring to the renovation of the building.

Last month, Mr. Trump insisted that he would not force Powell, although he called Powell to withdraw in May 2026 before his term in office.

“The fake messages say: 'Oh, if you fired him, it would be so bad that it would be so bad.' I don't know why it would be so bad, but I won't fire him, “said the president on June 12th.

Mr. Trump has beaten up against the Fed to have reduced the interest rates this year after the AB after the interest rates were reduced last year. Further interest reductions could increase economic growth and make it easier for Americans to borrow money, but the risk of inflation of the spike.

The interest rates remain near a two decades after the Fed interest rates hiked in 2022 and 2023. Inflation has dropped significantly since then, but it stays above the 2%year goal of the Fed and Powell has announced that he wants to proceed carefully. Powell has also said The Fed is concerned that Mr. Trump's tariffs could lead to inflation deteriorating.

Mr. Trump has argued inflation is already low enough To start reducing the rates. He has criticized Powell more and more sharply and described him in a social contribution in a social contribution in truth in a social contribution in the last month.

Powell was initially selected by Mr. Trump during his first government as Fed chairman, and former President Joe Biden nominated him for a second term of four years in 2022.

A shot would immediately have a legal challenge. The Supreme Court of Justice recently announced that Mr. Trump does not believe that he has the authority to do so. The judges decided in May that Mr. Trump could relieve members of independent federal authorities, including the National Labor Relations Board, but their decision does not necessarily apply to the Federal Reserve, since it is a “uniquely structured, quasi-private unit”.