Washington – President Trump on Tuesday asked a group of House Republicans if he should fire Federal Reserve Chair Jerome Powell – And the people of the room voiced approval. Several sources said that Mr. Trump indicated that he would do so.
Mr. Trump on Wednesday confirmed reporters at the Oval office that he talked to MPs about excluding Powell.
“I talked to him about the concept of firing from him. I said,” What do you think? ” Almost all of them said that I want.
Sources told CBS News that Mr. Trump commented to the members of the Republican House at the Oval Office on Tuesday night, after blocking a procedural vote, which will upgrade the Cryptocurrency Act in the House Preferred by Mr. Trump,
The idea of the President who removes a fed chair Legally unused – Federal law says that the chair can only be removed “for reason”. Action can have severe negative effects on financial markets.
On Wednesday, whether he wants Powell to cheat on renewal of Fed headquarters, Mr. Trump said, “Well, I think he is already under investigation. He spent more money for reconstruction.”
“I think he is, you know, he has some problems,” said Mr. Trump. He said that there are “many people” who want the role of a chair.
Russing Vough, Budget and Management Director Office, A letter sent to Pavel last week He was accused of “the law violating the law.” Last month, in Senate testimony, Powell called some details of the renewal project “misleading and wrong”.
Sources inside the administration told CBS News that the Presidents are socializing the possibility of firing for firing in public and private comments, but the White House has not yet formally created a legal place.
The Trump administration has tried to increase pressure on Powell, along with Some administration officer Powell is Powell, an allegation, accusing the fed of mismanagement of a multivio-dollar project to renew its Washington headquarters publicly-Powell is Powell Pushed back,
For decades, Federal Reserve leaders have worked with a high degree of independence from the rest of the government, allowing them to take decisions about the country’s monetary policy with less inputs from politicians.
Florida rape. Anna Paulina Luna, one of the Republican, who voted against advancing the Crypto law, written in one X post Tuesday night, “Jerome Powell is being expelled from a very serious source after hearing.”
In a later post, he wrote, “I am 99% sure the firing is adjacent.”
Many MPs refused to comment at the oval meeting, saying that the discussion was private. White House spokespersons did not comment immediately.
Some members of the House Financial Services Committee were planning to meet Powell on Wednesday night, sources told CBS News. Some members want to strengthen the freedom of their role, one of the sources said.
But the chairman of the committee, a spokesperson of the rape French Hill said that the meeting was canceled due to uncertainty over time in the house. Hill said that the meeting was scheduled to present new members of the committee months ago.
Mr. Trump’s dissatisfaction with Pavel, and his idea that the Federal Reserve is not working quickly to cut interest rates, has been a constant subject of discussion for the President in recent weeks. Mr. Trump has named Pavel – which was the first time to be elevated by Mr. Trump for the role of Fed Chair – “Shree was too late.”
“I think he is terrible,” Mr. Trump told reporters on Tuesday. “You talk to man, it’s like talking to one – nothing. It’s like talking to a chair. No personality.”
“I think he is tough. But one thing I did not see him is a person who needed a palace to live,” he said, referring to the renovation of the building.
Last month, Mr. Trump insisted that he would not force Powell to take out, although he had called Powell to resign before his tenure in May 2026.
“Fake news is saying,” Oh, if you expel it, it would be so bad, it will be so bad. ” I don’t know why it would be so bad, but I am not going to fire him, “the President said on 12 June.
Mr. Trump has dropped out against the Fed to leave the interest rates so far this year after the rate cut last year. Further rate cuts can promote economic growth and borrow money for Americans, but at risk of promoting inflation.
In 2022 and 2023, the interest rates remain near the high -decade high levels after the fed hiked rates. Inflation has fallen significantly since, but it remains above the 2%-year target of the Fed, and Powell has indicated that it is planning to move forward carefully. Powell is Also said Fed is worried that inflation may deteriorate with the tariff of Mr. Trump.
Mr. Trump has Argued that inflation is already very low To start rate cuts. He has rapidly criticized Powell in sharp words, he is called “Kul and Full Moran” and “Sunnaskul” in one. True social Post last month.
Powell was initially elected by Mr. Trump as a fed chair during his first administration, and former President Joe Biden nominated him for a second four -year term in 2022.
A firing will immediately promote a legal challenge. The US Supreme Court recently indicated that he does not think Mr. Trump had the right to do so. In May, Justice said that Shri Trump can fire members of independent federal agencies including the National Labor Relations Board, but said that its decision is not necessarily applicable to the Federal Reserve as it is “uniquely structured, semi-private unit.”
Ed O’Kif contributed to this report.
