*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!!
***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.”
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