Trump Claims He Can Fire Federal Reserve Chairman

The Associated Press reports:

President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and said he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank’s long-standing political independence.

“If I want him out, he’ll be out of there real fast, believe me,” Trump said in the Oval Office while taking questions from reporters during a visit with Italian Prime Minister Giorgia Meloni. “I’m not happy with him.”

At a November news conference, Powell indicated he would not step down if Trump asked him to resign and in remarks Wednesday, made clear that “our independence is a matter of law.” He added: “We’re not removable except for cause. We serve very long terms, seemingly endless terms.”

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