President Donald Trump reportedly drafted a letter to fire Federal Reserve Chairman Jerome Powell, according to multiple sources familiar with internal discussions. The revelation comes amid growing tension between the White House and the central bank over interest rate policy.
On Tuesday night, Rep. Anna Paulina Luna indicated that Powell’s removal could be imminent, further stoking speculation that Trump is ready to take decisive action if the Fed continues to ignore his economic agenda.
Calls for Powell’s resignation have intensified in recent weeks, with President Trump taking to Truth Social to blast the Fed Chair. “Too Late” should resign immediately!!!” Trump wrote last week, slamming Powell for keeping rates high despite economic pressure.
Tensions escalated after Powell appeared to publicly rebuke Trump’s policies, suggesting last Tuesday that interest rates would have likely been lowered already if not for the tariffs the president imposed. His remarks were seen as a thinly veiled criticism of Trump’s America First trade strategy.
Trump, now back in the Oval Office, has made no secret of his frustration with the Federal Reserve’s reluctance to cut rates. He inherited soaring inflation, sluggish economic growth, and high unemployment from the Biden administration — a trifecta of problems