President Trump reportedly engaged in a bit of show-and-tell with roughly a dozen House Republicans during an Oval Office meeting Tuesday night, with sources telling the New York Times the president displayed a draft of a letter to fire Federal Reserve Chair Jerome Powell. The session's ostensible focus was on possible crypto-related legislation, but Trump reportedly shifted focus, showcasing the letter and polling the group on whether he should give Powell the boot.
CBS News reports Trump was on Wednesday asked about what transpired during the meeting and confirmed, "I talked to them about the concept of firing [Powell]. I said, 'What do you think?' Almost all of them said I should. But I'm more conservative than they are." Trump would only be able to remove Powell for cause, and some say Trump has floated the idea of an expensive renovation of the Fed HQ qualifying. CBS News adds Trump was also asked whether he wanted Powell investigated in connection with the renovation and replied, "Well, I think he's already under investigation. He spent far more money than he was supposed to rebuilding. I think he's, you know, he's got some problems."
While Trump has stepped up public calls for Powell's resignation, blaming him for not slashing interest rates as aggressively as other countries' central banks, he has also publicly claimed—just last Friday—that he had no immediate plans to fire the Fed chair. He echoed that Wednesday, with CNBC quoting Trump as saying Wednesday, "We're not planning on doing it. It's highly unlikely." Some advisers believe Trump is more interested in rattling Powell than actually dismissing him.
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