Golden Finance reports that U.S. House Speaker Johnson expressed disappointment with Federal Reserve Chairman Powell, following President Trump’s ongoing criticism of the Fed chair due to dissatisfaction with high interest rates. When asked if he would support Trump in firing Powell, Johnson stated he was unclear about the legal authority to remove the Fed chair. Johnson also hinted at being open to modifying the Federal Reserve Act. This law, enacted in 1913, established the U.S. central banking system, and Fed officials have historically resisted such modifications. The last major revision of this law was in 2010, as part of the Dodd-Frank Act, aimed at strengthening regulation of large banks following the financial crisis. Johnson also mentioned, 'I believe all reviews are appropriate.' He referred to an investigation into the renovation costs of the Fed's downtown office building and Treasury Secretary Bascent's decision to investigate whether the Fed has engaged in 'mission creep.' (Golden Ten)
