UPDATE: Trump ‘Not Planning’ on Firing Fed Chair Jerome Powell
I have a better idea: END THE FED.
*UPDATE*
President Donald Trump told the media that he has no plans to firw Federal Reserve Chair Jerome Powell despite earlier reports.
“I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud,” said Trump.
Fraud? It’s possible:
I mean, it’s possible there’s fraud involved with the $2.7, billion renovation, this is a renovation [of the Fed building]. How do you spend $2.7 billion? And he didn’t have proper clearance, etc, etc, so you know that’s going on.
So, there could be something to that, but I think he’s not doing a good job. He’s got a very easy job to do. You know what he has to do? Lower interest rate.
Trump also wondered how Powell got appointed.
Powell got his job because Trump appointed him in 2017!!
🚨 JUST IN: President Trump says he is "not planning" to fire Jerome Powell following reports saying he is considering it, but says it could happen if Powell committed "FRAUD" under the $2.7B renovation
"I don't rule out anything, it's highly unlikely, unless he has to leave for… pic.twitter.com/1DnLIstKiB
— Eric Daugherty (@EricLDaugh) July 16, 2025
***Previous reporting…
The New York Times reported that President Donald Trump showed House Republicans a draft of a letter that would fire Federal Reserve Chair Jerome Powell.
I have a better idea.
END THE FED.
The meeting in the Oval Office was on an unrelated topic — the House members’ apprehensions about a crypto-related piece of potential legislation. But Mr. Trump used the meeting to discuss what has become one of his favorite topics: his hatred of Mr. Powell, whom he elevated to chair in 2017, during his first presidency.
It remains to be seen whether Mr. Trump will actually go ahead with trying to fire Mr. Powell, a move that some in his administration have cautioned could be calamitous and have far more expansive fallout than the president appears to anticipate.
The president has in recent weeks called on Mr. Powell to resign, saying he has not done enough to lower interest rates. But as recently as Friday Mr. Trump said he had no plans to fire Mr. Powell, despite saying the Fed chair was doing a “terrible job.”
Some advisers to and allies of Mr. Trump insist he’s simply trolling Mr. Powell and hoping to torment the Fed chair but won’t actually follow through with trying to fire him.
Fox News’s Chad Pergram confirmed that Trump asked House Republicans if he should fire Powell.
The representatives agreed.
One person said, “He’s going to do it.”
The same person said it would happen “soon.”
Fox has confirmed that President Trump asked a group of House Republicans if he should fire Fed Chair Jerome Powell.
Fox is told that that lawmakers agreed he should be fired.
“He’s going to do it,” said one source.
When asked when, the source replied “soon.”
— Chad Pergram (@ChadPergram) July 16, 2025
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Comments
looser monetary policies nottttt needed especially when done by the government and not the market
serving the debt is killing us…but its b/c these #$^%&&*( wont jettison the socialist agenda
let the money come in from alllll the great agreements with other countries and companies and that in and of itself will fill our treasury with $$$$$
then ,,since Im dreaming out loud…eliminate the income tax
go to a flat tax on consumption and end the games being played against the middle class with all that government help
Beat me to it.
Drat.
it just needs to be done
it wrecks the economy ..despite the lies of the government and others
Or, he could do it the way he’s done other bad agencies —
replace Powell with Ron Paul.
bloomberg.co has a different take:
https://www.bloomberg.com/news/articles/2025-07-16/trump-now-says-firing-powell-unlikely-whipsawing-markets?srnd=homepage-americas
you mean bloomberg acting like they are being unbiased but in fact THEY are causing the market issues with this while of course the uninitiated will continue to scream
trump is unhinged etc
Supreme Court has already telegraphed they may not allow this and cited the early First Bank of America (1800) precedents. The constitutionality of the early national bank was debated. The Fed will go away about the time we see the Epstien files. The US tried to do away with national banks between about 1837 and 1868 and we resurrected it because there was a need (development).
The Federal Reserve is critical to the modern banking and financial system. So is Federal Reserve Independence.
I consider the “end the fed” people as uninformed and as dangerous to the economy as the Democrat Socialist running for mayor of New York. Sad. Go chase some UFOs.
if only you understood freedoms better
I understand freedom perfectly fine. Without the modern financial system, nobody is opening a US copper or rare earth mine. They wont be able to raise the capital. The reason the US reinstated the national banking system after the civil war was to foster economic development. Its very hard to finance big projects without a national banking system.
your outlook shows no confidence in the humans who arent welfare addled
“your outlook shows no confidence in the humans who arent welfare addled”
I don’t know what that has to do with the Fed. Companies need to borrow money to build projects. This has been the case since the railroads in the late 1800s
dwb post 4:50pm
the free market decides the rate as people then choose if they want to pay the rate and b/c in the best world we can hope for,,, another bank and beat the rates if they want the business
with the gov in charge then banks have an excuse to not have the ability to lower their rates
The Federal Reserve is critical for the modern debt slavery system.
No it isnt lol. Maybe the income tax is though.
Embrace the power of “and. “
Oh please, anybody can counterfeit money.
Presidents jawboning the Fed is nothing new. However, I wasn’t aware of Presidents having the power to fire the Fed Chairman. That said, Powell and other board members should resign if their TDS is getting in the way of their independence.
Trump is threatening Powell with the release of the Epstein tapes. He is filmed in high heels and a nightie, being flogged by Bernanke in pick tights and pasties, screaming he will only lower rates if mommy tells him to.
Powell is more credible on monetary policy than Trump, who apparently doesn’t understand interest rates. Interest rates are the market response to the Fed withdrawing or adding dollars, and the Fed uses them to regulate withdrawing or adding. Every month or so the Fed meets, looks at leading indicators of inflation, and decided whether to lower, leave the same, or raise the target interest rate a tiny bit.
If Trump is complaining about the interest rate, he doesn’t understand the adding and withdrawing that it’s regulating.
Withdraw dollars that bid for more than the economy can do at once, and add dollars to keep parts of the economy from going idle for lack of bids.
Interest rates are the market reponse to deficits. If Trump wants lower rates, he needs to support cutting the deficits.
Europe is not a fair comparison. Their economy is very sleepy, so yes they needed to lower rates.
Yeah, Trump apparently does not understand. Send him a letter of explanation. He apparently needs your help. He will give you a commendation, signed by autopen, of course.
You are simply describing how the fed acts not the propriety of their actions, which is President Trump’s complaint..
Inflation is ongoing despite what the numbers might appear to show. Certainly inflation around food items is ongoing. The trouble with the inflation numbers is they are too general and likely differ from area to area. That isn’t captured by such summary numbers.
Leave Powell alone as his term is not much longer. Powell’s first job is to keep inflation under control and without the effect from tariffs known, he dares not cut. Any inflation from tariffs will be known sooner if Trump would quit moving the deadlines thus not providing the Fed with accurate data from which to cut. Also, the currency markets won’t appreciate a move to fire Powell as it signals no more Fed independence.
“ Any inflation from tariffs will be known sooner if Trump would quit moving the deadlines thus not providing the Fed with accurate data from which to cut.”
I mean how very dare Trump make changes on the fly as information or action changes at the same time 🙄😂
Trump can act on the fly. The Fed can not and provide any degree of confidence to markets.