Powell, Donald Trump and Fed
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If President Donald Trump takes the unprecedented step of trying to fire Fed Chairman Jerome Powell, the effort would roil markets and likely be met with pushback in the courts. Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.
The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.
Jerome Powell was prepared to go to court when the president floated his dismissal six years ago. If it happens again, the Fed chair might have to pay the legal tab himself.
President Donald Trump‘s bids to replace a litany of independent agency heads have prompted legal challenges from the Left, which could end up with the Supreme Court revisiting a 90-year-old precedent related to the president’s firing power.