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

Epstein files released to Congress are mostly ‘recycled’ documents, Democrat says
Politics

Epstein files released to Congress are mostly ‘recycled’ documents, Democrat says

Rep. Summer Lee, D-Pa., participates in a subcommittee hearing of the House Oversight and Government Reform Committee on Capitol Hill in Washington, D.C., July 23, 2025. Jonathan Ernst | Reuters Rep. Summer Lee, D-Pa., in a statement on Saturday criticized the release of the first trove of documents related to the late convicted sex offender […]

Read More
Trump administration considering deporting Kilmar Abrego Garcia to Uganda, his lawyers say
Politics

Trump administration considering deporting Kilmar Abrego Garcia to Uganda, his lawyers say

Kilmar Abrego Garcia walks, as he has been released from the Putnam County Jail in Cookville, Tennessee, U.S., August 22, 2025. Seth Herald | Reuters U.S. immigration officials have notified Kilmar Abrego Garcia of their intent to deport him to Uganda, his attorneys said in a Saturday filing that accuses the government of pressuring Abrego Garcia to […]

Read More
Troop costs, China in focus when South Korea’s Lee meets Trump
Politics

Troop costs, China in focus when South Korea’s Lee meets Trump

The U.S. and South Korean flag against the backdrop of a building. Chris Putnam | Future Publishing | Getty Images When South Korean President Lee Jae Myung meets U.S. President Donald Trump next week for their first summit, he will be asked to pay more for the upkeep of American troops on the peninsula during […]

Read More