• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

by July 17, 2025
written by July 17, 2025

President Donald Trump said Wednesday it was ‘highly unlikely’ he would fire Jerome Powell as chair of the Federal Reserve.

His statements, made in the Oval Office, come less than 24 hours after telling a room full of Republican lawmakers that he was considering doing so.

“No, we’re not planning on doing anything,” Trump told reporters in response to a question about whether he wanted to fire Powell.

“I don’t rule out anything but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, while criticizing Powell’s management of a Fed renovation project that the White House had recently floated as a pretext for removing the Fed chair.

Fed Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on June 25. Kent Nishimura / Getty Images

The president had asked GOP lawmakers late Tuesday how they felt about firing the Fed chair, according to a senior White House official. They expressed approval for firing him. The president then indicated he likely would soon but that no final decision had been made.

Still, Rep. Anna Paulina Luna, R-Fla., posted on X on Tuesday night that Powell’s firing was ‘imminent,’ something that prompted a sell-off in stock futures before Wednesday’s market open. By noon Wednesday, major stock indexes had recovered to trade almost flat on the day.

CBS News first reported the meeting. A Fed official declined comment to CNBC on the report about the Trump meeting Tuesday, which came after Republicans blocked a procedural vote on crypto legislation that the president favors.

Trump and other White House figures have launched a multipronged attack on Powell to push the central bank to lower its key borrowing rate. Most recently, they have blasted Powell over renovations to the Fed’s Washington headquarters, raising suspicion that Trump could try to remove him for cause.

A recent Supreme Court decision indicated that the president does not have the authority to remove Fed officials at will.

In a CNBC interview Wednesday, Rep. French Hill, R-Ark., the chair of the House Financial Services Committee, repeated that “I don’t see” Trump firing Powell. Treasury Secretary Scott Bessent also told Bloomberg News on Tuesday that he didn’t expect Trump to move in that direction.

However, Luna, who on Tuesday joined with other party members in blocking the crypto initiative, said on X that a move against Powell is forthcoming.

“Hearing Jerome Powell is getting fired! From a very serious source,” she said, later adding, “I’m 99% sure firing is imminent.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Civil rights group declares ‘state of emergency,’ pointing at Trump admin
next post
Russia threatens West with ‘preemptive strikes’ as NATO looks to deliver Patriots ‘as quickly as possible’

related articles

Trump demands resignation of Intel CEO over alleged...

August 7, 2025

Claire’s, known for piercing millions of teens’ ears,...

August 7, 2025

Tim Cook to join Trump at White House...

August 7, 2025

Fox One streaming service to launch ahead of...

August 6, 2025

Murdoch to provide Trump health updates in deal...

August 6, 2025

U.S. farm agency allows six more states to...

August 5, 2025

Amazon lays off over 100 employees in Wondery...

August 5, 2025

All major Las Vegas Strip casinos are now...

August 5, 2025

Columbia Sportswear sues Columbia University, alleging trademark infringement

August 4, 2025

JPMorgan marks 1,000th branch opening since 2018 expansion...

August 1, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Speaker Johnson says House will match Trump’s pace as Democrats are left ‘flailing’

    February 9, 2025
  • These are the judges going toe to toe against Trump’s agenda

    March 18, 2025
  • US cuts defense ties with Cuba over ‘non-cooperation’ after harboring terror fugitives

    May 13, 2025
  • Dem strategists ratchet up Hitler-Trump comparisons despite concerns about heated rhetoric

    October 15, 2024
  • Omaha city councilman mounts bid to succeed outgoing House Republican Rep. Don Bacon

    July 3, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,660)
  • Investing (634)
  • Stock (876)

Latest Posts

  • Exiled Iranian prince tells Trump he can be ‘one of history’s great peacemakers’ amid talk of regime change

    June 30, 2025
  • Dem senators rip GOP’s ‘Silence of the Lambs’ as Trump marks 100th day

    April 29, 2025
  • Former Vice President Mike Pence honored by Kennedy family in receiving the JFK ‘Profile in Courage Award’

    May 5, 2025

Recent Posts

  • McDonald’s misses Q2 estimates as same-store sales decline for first time since pandemic

    July 30, 2024
  • Walmart to pay $10 million to settle lawsuit over money transfer fraud

    June 23, 2025
  • S&P 500 and Nasdaq in retreat to new weekly lows

    July 19, 2024

Editor’s Pick

  • U.S. lawmakers move to ban China’s DeepSeek from government devices

    February 6, 2025
  • Biden delivers strong speech touting NATO amid health questions, Democrats’ concerns

    July 10, 2024
  • AUDUSD and AUDNZD: AUDUSD is  under pressure on Friday

    August 9, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock