Trump Considers Firing Fed Chair Powell

(Reuters) – President Donald Trump has privately discussed firing Federal Reserve Chair Jerome Powell for months, including possible replacement Kevin Warsh, according to the Wall Street Journal.

Warsh has advised against this decision, suggesting Trump allow Powell to complete his term, which ends in May 2026. He served as a Fed governor from February 2006 to April 2011, appointed by President George W. Bush.

Reports indicate discussions occurred at Trump’s Mar-a-Lago estate in February, with talk continuing into March.

Trump has yet to make a final decision on whether to attempt to fire Powell. This would likely face legal challenges up to the Supreme Court, as the Federal Reserve Act of 1913 states that Fed leaders can only be dismissed ‘for cause.’ Powell has asserted his firing wouldn’t be ‘permitted under the law.’

The White House and Warsh did not immediately respond to requests for comment.