President Donald Trump acknowledges he has spoken privately with a group of House Republicans about whether he should fire Federal Reserve Chair Jerome Powell.
Trump has repeatedly criticized Powell in recent months for refusing to lower interest rates. The president on July 16 told reporters it was highly unlikely he would fire Powell, “unless he has to leave for fraud,” according to CNN.
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Powell, whose position is independent, can only be fired for cause.
Trump has reportedly floated a $2.5 billion renovation plan at the Federal Reserve building in Washington, D.C., as a potential reason to remove Powell.
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