Trump asks lawmakers whether Powell should be fired, insiders say he hinted at taking action

Odaily Planet Daily – According to several individuals with direct knowledge of the matter, on Tuesday, Trump asked a group of House Republicans whether he should fire Federal Reserve Chairman Jerome Powell, and those present expressed their support. Several people indicated that Trump hinted he would take such action. There is no legal precedent for a president dismissing the Fed Chair—federal law stipulates that the Fed Chair can only be removed “for cause.” Such a move could have severe negative repercussions for financial markets. Sources within the administration told CBS that Trump has mentioned, both publicly and privately, the possibility of firing Powell “for cause,” but the White House has yet to formally establish a legal basis for this. On Tuesday evening local time, Florida Representative Anna Paulina Luna (one of the Republicans who voted against advancing the cryptocurrency bill) posted: “Hearing Powell is getting fired! The source is very reliable.” In a subsequent post, she wrote: “I am 99% sure the firing is about to happen.” (Jin10)