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Jerome Powel Out? [1]
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Date: 2025-07-16
NYT Gift
Trump Has Drafted Letter to Fire Fed Chair and Asked Republicans if He Should
The president waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans. It remains to be seen whether he follows through with his threat.
President Trump showed off a draft of a letter firing the chair of Federal Reserve, Jerome H. Powell, during a meeting with roughly a dozen House Republicans on Tuesday night, polling them as to whether he should do it and indicating that he likely would, according to two people briefed on the meeting.
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.
Can He Do It?
x The Supreme Court indicated recently that Trump can't fire the Fed Chair. www.politico.com/news/2025/05... — Jay Bennett (@jaybennett1234.bsky.social) 2025-07-16T16:06:20.287Z
x For example, there is a carve-out for the Federal Reserve, essentially insulating it from the order. The idea the president could fire members of the Fed has spooked markets. www.npr.org/2025/05/22/n... They said he could fire literally everyone else but not the Fed. — sif (@sif99.bsky.social) 2025-07-16T16:06:50.642Z
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