It was reported on Wednesday that President Trump drafted a letter to fire Fed Chair Jerome Powell.
Breaking News: President Trump drafted a letter to fire Jerome Powell, the Fed chair, and asked Republicans if he should send it and indicated that he likely would. https://t.co/uoRm6ruGo9
— The New York Times (@nytimes) July 16, 2025
On Tuesday evening, Rep. Anna Paulina Luna said Powell’s firing was imminent.
I’m 99% sure firing is imminent. https://t.co/cyaXaydiSZ
— Anna Paulina Luna (@realannapaulina) July 16, 2025
President Trump has been calling on Fed Chair Jerome Powell to resign.
“”Too Late” should resign immediately!!!” Trump said on Truth Social last week.
As previously reported, Jerome Powell last Tuesday took a shot at President Trump and said the Fed would have likely lowered interest rates if not for Trump’s tariffs.
President Trump inherited high inflation, a stalled economy and high unemployment from Joe Biden and Fed Chairman Jerome Powell is refusing to slash interest rates.
The Fed can stimulate the economy and the real estate market by lowering interest rates, however, Chairman Jerome Powell has left interest rates unchanged since Trump was sworn into office this year.
President Trump on Wednesday said it is ‘highly unlikely’ he will fire the Fed Chair.
TRUMP says that it’s “highly unlikely” he will fire Powell — unless he has to leave for “fraud.”
— Jake Sherman (@JakeSherman) July 16, 2025
BREAKING…
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