Trump Shows Republicans Letter Firing Jerome Powell

The New York Times reports:

President Trump showed off a draft of a letter firing the chair of Federal Reserve, Jerome H. Powell, during a meeting with roughly a dozen House Republicans on Tuesday night, polling them as to whether he should do it and indicating that he likely would, according to two people briefed on the meeting.

The meeting in the Oval Office was on an unrelated topic — the House members’ apprehensions about a crypto-related piece of potential legislation. But Mr. Trump used the meeting to discuss what has become one of his favorite topics: his hatred of Mr. Powell, whom he elevated to chair in 2017, during his first presidency.

It remains to be seen whether Mr. Trump will actually go ahead with trying to fire Mr. Powell, a move that some in his administration have cautioned could be calamitous and have far more expansive fallout than the president appears to anticipate.

Read the full article.

Breaking News: President Trump drafted a letter to fire Jerome Powell, the Fed chair, and asked Republicans if he should send it and indicated that he likely would. https://t.co/uoRm6ruGo9

— The New York Times (@nytimes) July 16, 2025