#PowellVsTrump The president of the Federal Reserve, Jerome Powell, is gaining key support in Capitol Hill from Republican senators who fear the repercussions if President Donald Trump follows through on his threats to try to remove the politically independent central banker.

While Trump appeared to hesitate this week about his intention to dismiss the Fed chairman, some Republicans in Congress began to raise their voices and warn that such a move would be a mistake. Trump could undermine the Fed's independence from political influence and inject uncertainty into the foundations of the U.S. economy if he fires Powell.

"If anyone thinks it would be a good idea for the Fed to become another government agency subject to the president, they are making a serious mistake," said Republican Senator Thom Tillis of North Carolina in a speech on the Senate floor.

The support from Republican members of the Senate Banking, Housing, and Urban Affairs Committee showed the caution with which traditional Republicans are managing a presidency in which Trump often flirts with ideas — such as high tariffs or firing the Fed chairman — that threaten to undermine confidence in the U.S. economy. "Markets expect an independent central bank," said Republican Senator Mike Rounds of South Dakota, who discouraged the firing of Powell. “And if they thought for a minute that it is not independent, that would call into question the forecasts and the integrity of the decisions made by the bank.”

Still, many other Republicans believe that removing Powell is a good idea.

“The most incompetent and worst president of the Federal Reserve in U.S. history should resign,” said Republican Senator Bernie Moreno of Ohio.

Trump stated that he also felt encouraged to fire Powell during a meeting with a dozen far-right House members on Tuesday night.