Trump Expected to Fire Fed Chair Powell Amid Ongoing Tensions

President Donald Trump has repeatedly criticized Federal Reserve Chair Jerome Powell, despite having appointed him in 2017. Trump expressed surprise at Powell's appointment and called him a "terrible Fed chair," blaming him for monetary policy decisions he dislikes, especially regarding interest rates. Reports indicate Trump has discussed with House Republicans the possibility of firing Powell, though Powell has stated he intends to serve out his term and that the president lacks legal grounds to remove him prematurely. The White House has also criticized the Federal Reserve's $2.5 billion renovation project, which Powell has asked the inspector general to review amid allegations of cost overruns and lack of transparency. These tensions highlight a growing adversarial relationship between Trump and Powell, raising concerns about the independence of the Federal Reserve under Trump's administration. Despite speculation and reports, Trump denies plans to fire Powell but confirms conversations about it have taken place among lawmakers.