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Is Trump firing Powell?

Asked 7 hours ago

Answer

Trump says it is unlikely he will fire Powell and will wait for Powell's term to end. Legal precedent suggests Trump cannot remove Powell before his term concludes.

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CBS America

Trump says it's unlikely he'll fire Powell

CBS America · New
CBS America
CBS America
New
  • President Trump raised the idea of firing Federal Reserve Chair Jerome Powell during a meeting with House Republicans. 13s
  • Trump later said it is unlikely he will remove Powell before the end of his term. 18s
  • Lawmakers expressed concerns about the Fed not cutting interest rates as Trump prefers. 38s
  • Trump acknowledged that removing Powell could disrupt stock markets. 52s
  • Legal precedent and Supreme Court guidance indicate the president cannot remove the Fed chair before his term ends. 1m 24s
Politics

References

Trump says it's unlikely he'll fire Powell
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CBS America
7 hours ago
Trump says it's unlikely he'll fire Powell

Trump backtracked, saying he will wait until Powell's term runs out next year.

Trump says it's unlikely he'll fire Powell
Icon
CBS America
7 hours ago
Trump says it's unlikely he'll fire Powell

President Powell appears safe for now after talk of his ouster during an Oval Office meeting.

Trump says it's unlikely he'll fire Powell
Icon
CBS America
7 hours ago
Trump says it's unlikely he'll fire Powell

Powell is set to serve until next spring, with the Supreme Court indicating Trump does not have the power to remove him before his term is up.

Bank of America CEO: A stable central bank important to U.S.
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CNBC
1 day ago
Bank of America CEO: A stable central bank important to U.S.

President Trump now says firing Fed Chair Powell is, quote, highly unlikely unless he has to leave.

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