On April 18th, it was reported that Trump has discussed with several senior advisors the dismissal of Federal Reserve Chairman Jerome Powell. According to reports, Trump has had discussions with former Federal Reserve Governor Kevin Warsh regarding the early dismissal of Powell. Warsh told Trump that Powell should be allowed to complete his term without interference. Treasury Secretary Bessent opposes the idea of Trump advisers seeking to dismiss Powell, believing that this move is not worth the cost. On that day, Trump also publicly fired at Powell due to the Fed’s delay in cutting interest rates. He stated that he has the ability to make Powell step down, even though the Federal Reserve is an independent institution. Powell’s current term will end in 2026.
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