President Donald Trump said Wednesday that he wasn’t planning to fire Federal Reserve Chair Jerome Powell — but he wouldn’t rule it out either.
Firing the Fed chair would be unprecedented and legally untested. The Fed is a politically independent institution, designed to insulate decisions that dictate financial markets, including monetary policy, from the whims of politics.
“I don’t rule out anything, but I think it’s highly unlikely,” President Donald Trump told reporters during a meeting in the Oval Office.