Trump Studies Firing Fed Chair Powell, Eyes Successors

President Donald Trump has intensified criticism of Federal Reserve Chair Jerome Powell, repeatedly stating Powell is too slow with rate cuts and suggesting he could remove him before his term ends in 2026. Trump’s economic adviser, Kevin Hassett, confirmed the administration is studying the legal possibility of firing Powell, though advisers have warned Trump about legal and financial complications. Trump has reportedly discussed potential replacements, including former Fed governor Kevin Warsh. Despite these threats, experts emphasize that firing Powell would challenge the Fed’s independence and could trigger significant market volatility. Powell has defended the central bank’s autonomy and warned that Trump’s tariff policies may increase inflation, complicating monetary policy. The ongoing conflict has raised concerns about the stability and independence of U.S. monetary policy.