President Donald Trump insisted Monday that he has the authority to fire Fed Chairman Jerome Powell, but said he has no plans to do so.
In an extensive interview with The Hill, Trump was asked if he has the power to remove Powell. “If I wanted to, but I have no plans to do anything,” the president replied.
Mick Mulvaney, the acting White House chief of staff, said in December that Trump “now realizes” he cannot fire Powell. Last week, Bloomberg News reported that in February, the White House reportedly considered demoting Powell, stripping him of his chairman title and making him a regular governor on the Fed board. When asked last Tuesday whether he was still considering demoting Powell, Trump told reporters “Let’s see what he does.
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