Trump has talked to former Fed Gov. Kevin Warsh about firing Powell, report says

Trump has talked to former Fed Gov. Kevin Warsh about firing Powell, report says


Kevin Warsh, former governor of the US Federal Reserve, during The Semafor World Economy Summit in Washington, DC, US, on Thursday, April 18, 2024.

Samuel Corum | Bloomberg | Getty Images

President Donald Trump has spoken with former Federal Reserve Governor Kevin Warsh about possibly replacing the current central bank chairman, Jerome Powell, before his term expires, the Wall Street Journal reported Thursday.

But Warsh has advised Trump not to fire Powell or interfere with his tenure, the Journal reported, citing people familiar with the matter. Powell’s four-year term is set to end May 2026.

Trump spoke with Warsh in meetings at the president’s home and private club Mar-a-Lago in Florida, the newspaper reported. Those conversations took place as late as February, while others have talked to Trump about firing Powell as recently as early March, according to the report.

Trump has repeatedly urged Powell to lower interest rates and criticized him for refusing to do so. In a Truth Social post Thursday morning, Trump said Powell’s “termination cannot come fast enough!”

Read more CNBC politics coverage

In the Oval Office that afternoon, Trump heaped more pressure on the Fed chair.

“I’m not happy with him. I let him know it, and if I want him out, he’ll be out of there real fast, believe me,” Trump said, ignoring multiple follow-up questions about whether he was trying to remove Powell.

Asked for comment on the Journal’s report, the White House referred CNBC to Trump’s remarks in the Oval.

Powell has previously said the president does not have the power to fire him under the law.

Trump’s aggression has raised concern even from some of Powell’s critics — including Sen. Elizabeth Warren, D-Mass., who warned earlier Thursday that destroying the Fed’s independence could spell catastrophe for U.S. markets.

Read the full report from The Wall Street Journal.



Source

Trump says Israel must stop bombing Gaza immediately
Politics

Trump says Israel must stop bombing Gaza immediately

Smoke rises during an Israeli military operation in Gaza City, as seen from the central Gaza Strip September 29, 2025. Mahmoud Issa | Reuters President Donald Trump said on Friday Israel must stop bombing Gaza immediately and that he believes Hamas is ready for peace after an earlier statement by the Palestinian militant group. Hamas […]

Read More
Treasury weighs minting  coin with Trump’s face for U.S. 250th anniversary
Politics

Treasury weighs minting $1 coin with Trump’s face for U.S. 250th anniversary

A “draft” from The Treasury Department of a $1 commemorative coin that it plans to mint next year. Courtesy: U.S. Treasury Department The Treasury Department is considering minting a $1 coin bearing President Donald Trump’s likeness on both sides to honor him and commemorate the United States’ 250th birthday next year. A first draft of […]

Read More
Trump’s 0,000 fee for H-1B worker visas challenged in lawsuit
Politics

Trump’s $100,000 fee for H-1B worker visas challenged in lawsuit

A coalition of unions, employers and religious groups filed a lawsuit on Friday seeking to block President Donald Trump’s bid to impose a $100,000 fee on new H-1B visas for high-skilled foreign workers. The lawsuit filed in federal court in San Francisco is the first to challenge Trump’s proclamation issued last month announcing the fee. […]

Read More