Trump Denies WSJ Report on Powell Firing Intervention

President Donald Trump has strongly denied a Wall Street Journal report claiming that Treasury Secretary Scott Bessent tried to dissuade him from firing Federal Reserve Chair Jerome Powell. Trump called the report "typically untruthful" and asserted that he knows better than anyone what is good for the market and the U.S., crediting himself for record-high market performance. Despite Trump's repeated criticism of Powell's handling of interest rates, legal experts say the president likely lacks the authority to remove the Fed chair unilaterally, and the Federal Reserve has declined to comment. Trump is also suing the Wall Street Journal for defamation over a separate story about a birthday message he allegedly sent to Jeffrey Epstein, which Trump claims has caused him significant financial and reputational harm. The controversy has caused concern on Wall Street, with fears that attempts to remove Powell could lead to legal battles and market instability. Trump maintains that his policies have driven economic growth and has dismissed claims that his Treasury Secretary advised him against firing Powell.