Jerome Powell, Chair of the Federal Reserve, is reportedly facing the risk of being fired according to speculation from Congress member Anna Paulina Luna on July 15, 2025. The possibility of Powell's removal has raised concerns about the stability of monetary policy and its impact on global markets and the economy.
Rumors of Powell's firing shake the financial markets.
Rumors stemming from Anna Paulina Luna suggest that Jerome Powell could soon be ousted from his position as Fed Chair, sparking a new debate about the leadership of the Federal Reserve. Scott Bessent, Secretary of the Treasury, acknowledged that the search for a replacement is underway but denied any personal intention to take on the position.
Immediate effects include increased public scrutiny of Fed leadership, along with implications for policy planning. The lack of an official announcement has led to increased speculation, posing consequences for market confidence and financial stability.
Scott Bessent, U.S. Secretary of the Treasury, "An official process has begun" to find the new Fed chair.
