Trump, Powell and Federal Reserve
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President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.
Under the law, Trump can fire Powell for what’s known as “cause.” What Trump’s inner circle is grappling with is what exactly constitutes “cause” in a way that can withstand
President Donald Trump looks on as his then-nominee for chairman of the Federal Reserve Jerome Powell takes to the podium at the White House, Nov. 2, 2017. Trump on Wednesday told reporters: “I was surprised he was appointed.” (Getty Images) “I was surprised, frankly, that Biden put him in and extended him,” he said.
President Trump denied he plans to fire Federal Reserve chairman Jerome Powell after telling Republican lawmakers he would likely make the move.
"As explained on the Board's public website, we take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people,
Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.
Jerome Powell has responded to sharp criticism from the Trump administration about renovations to the Fed’s offices, answering questions about changes to the project as well as reaffirming the central bank’s commitment to “transparency for our decisions and to be accountable to the public.”
It is becoming clear what the major challenge will be for Jerome Powell’s successor: Maintaining the Fed’s independence while keeping President Trump happy.
(Reuters) -Federal Reserve Chair Jerome Powell on Thursday responded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus,
Privately, White House officials acknowledge uncertainty about Trump firing Powell solely based on accusations he mismanaged a multi-year renovation project.