16.07.2025 19:29

President Donald Trump drafted a letter intending to dismiss Federal Reserve Chairman Jerome Powell, a move revealed by the New York Times. This action, undertaken during a Tuesday evening Oval Office meeting with House Republicans, involved gauging their support for the dismissal.


According to reports from the New York Times, the President circulated the draft termination letter amongst Republican representatives, effectively seeking their approval before proceeding with the potentially controversial action. He subsequently confirmed discussions about Powell’s dismissal with these lawmakers on Wednesday.


Trump stated that a majority of the House Republicans he consulted urged him to fire Powell. The President's consideration of such a drastic step stems from his ongoing dissatisfaction with Powell's monetary policy decisions, which he believes are harming the US economy. The potential consequences of this dismissal, however, remain a topic of significant speculation and debate. This incident underscores the continued tension between the executive and independent branches of government regarding economic policy. Information on this matter was obtained from internet sources.