Muhammad Hussain 007
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$
The White House has confirmed that Donald Trump is determined to fire Federal Reserve Chair Jerome Powell, despite the potential consequences. Trump's top economic adviser, Kevin , stated that removing Powell is now a live option. Here's what's
¹:
- *Trump's Frustration*: Trump has been vocal about his dissatisfaction with Powell, criticizing him for not lowering interest rates. Trump believes Powell should have cut rates long ago, particularly in light of his own economic policies.
- *Legal Hurdles*: However, firing Powell won't be straightforward. Federal Reserve governors are appointed for terms, and the president can only remove them for "cause," such as misconduct or major failure. Trump would need to prove cause to legally unseat Powell.
- *Potential Consequences*: Treasury Secretary Scott has warned that firing Powell could destabilize financial markets. Others close to Trump, like former Fed Governor Kevin , have also advised against removing Powell, citing potential economic damage.
- *Trump's Plans*: Despite these warnings, Trump seems determined to push forward. He's with to discuss potentially replacing Powell before his term in May 2026. A pending Supreme Court case could potentially give Trump the legal cover he needs to fire Powell.
- *Market Impact*: The news has already led to market reactions, with stocks and bonds responding to the uncertainty. Firing Powell could further erode confidence in US markets and potentially damage the dollar's status as a global reserve currency ¹ ² ³.
The White House has confirmed that Donald Trump is determined to fire Federal Reserve Chair Jerome Powell, despite the potential consequences. Trump's top economic adviser, Kevin , stated that removing Powell is now a live option. Here's what's
¹:
- *Trump's Frustration*: Trump has been vocal about his dissatisfaction with Powell, criticizing him for not lowering interest rates. Trump believes Powell should have cut rates long ago, particularly in light of his own economic policies.
- *Legal Hurdles*: However, firing Powell won't be straightforward. Federal Reserve governors are appointed for terms, and the president can only remove them for "cause," such as misconduct or major failure. Trump would need to prove cause to legally unseat Powell.
- *Potential Consequences*: Treasury Secretary Scott has warned that firing Powell could destabilize financial markets. Others close to Trump, like former Fed Governor Kevin , have also advised against removing Powell, citing potential economic damage.
- *Trump's Plans*: Despite these warnings, Trump seems determined to push forward. He's with to discuss potentially replacing Powell before his term in May 2026. A pending Supreme Court case could potentially give Trump the legal cover he needs to fire Powell.
- *Market Impact*: The news has already led to market reactions, with stocks and bonds responding to the uncertainty. Firing Powell could further erode confidence in US markets and potentially damage the dollar's status as a global reserve currency ¹ ² ³.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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