Trump clarified to reporters it’s “highly unlikely” he would fire Federal Reserve Chair Jerome Powell, marking a shift from comments he made privately to lawmakers
read more
In a major U-turn, US President Donald Trump on Wednesday (July 16) said it’s “highly unlikely” he would fire Federal Reserve Chair Jerome Powell, marking a shift from
comments he made just a day earlier during a private meeting with lawmakers where he hinted at wanting Powell gone.
The conflicting signals reflect the administration’s ongoing efforts to pressure Powell, whom Trump has openly expressed a desire to see removed from his role, though he seems hesitant to take the drastic step of firing him.
STORY CONTINUES BELOW THIS AD
When reporters in the Oval Office asked if he had entirely ruled out dismissing Powell, Trump replied that he never rules anything out but emphasised it was “highly unlikely.”
He added a key condition: “Unless he has to leave for fraud.”
What was reported earlier?
The New York Times reported that Trump showed a group of Republican lawmakers a draft of a letter firing Powell and asked them if he should go ahead with it. Sources said that he indicated in the meeting that he wanted to go ahead with firing Powell.
Separately, Bloomberg reported a White House official as saying that Trump is likely to fire Powell soon and discussed the matter with Republican lawmakers.
For months,
Trump has been trashing Powell for not cutting interest rates to his liking. On his part, Powell has insisted that the Fed would cut the interest rate at an appropriate time on the basis of economic metri