Trump Floats fires Fed Chairman Jerome Powell: NPR

President Trump says he has not excluded the chairman of the Federal Reserve, Jerome Powell, with whom he has been frustrated for months because he did not reduce the interest rate.

The Fed was careful with the interest because it rates the effects of Trump's tariffs on inflation. Consumer prices rose by 2.7% compared to the previous year – a larger annual increase than the month before. But Trump says Powell, who refuses to reduce interest rates, harms the economy.

Trump said reporters on Wednesday that he “did not plan” to dismiss Powell – a step that could undermine the independence of the Federal Reserve. But later he said that he did not rule out Powell and said it was highly unlikely if there was no instance of fraud.

“He is a terrible Fed chairman. I was surprised that he was appointed,” said Trump, although he nominated Powell as chairwoman in his first term.

But the president continues to send mixed signals.

Trump said he had the idea of releasing Powell to some Republican legislators on Tuesday in order to dismiss support from them. A high -ranking civil servant of the White House, who spoke on the condition of anonymity, says NPR that Trump has reported to the legislators that he will soon fire Powell.

Trump caused a wave of speculation and market uncertainty in April this year when he published: “Powell's termination cannot come quickly enough!” Days later, the president said that he “had no intention to dismiss him”.

The White House has also held Powell responsible for a ongoing renovation of the Federal Reserve Offices for several million dollars. Russell Vouht, director of the Office for Management and Household, sent a letter to Powell on July 10, in which there was “serious concerns” regarding the project and asked about details about the planned editions.

Powell said that the president has no authority to release him according to the law before his term of office ends next May.

In November he said he would not resign, even if Trump asked him about it. Powell also sets no one -sided interest rates and instead leads a board of directors who work together and is right about these decisions.