Trump Considers Removing Fed Chair Powell Amid GOP Support, Legal Hurdles Remain

President Donald Trump reportedly presented House Republicans with a draft letter to remove Federal Reserve Chair Jerome Powell during a meeting initially intended to discuss cryptocurrency legislation. The abrupt shift in agenda revealed Trump's persistent frustration with Powell's monetary policy, particularly the Fed's cautious approach to interest rate cuts.

Legal experts quickly noted the impossibility of such an action under current U.S. law, which protects Fed chairs from political dismissal. The confrontation underscores growing tensions between the administration and the central bank, with TRUMP accusing Powell of stifling economic growth through excessive caution.

While Trump later claimed to have "no immediate plans" for Powell's removal, the existence of a drafted letter suggests deeper consideration than previously acknowledged. The episode reflects ongoing WHITE House efforts to influence monetary policy as economic uncertainties loom.