Donald Trump last night insisted he was not planning to fire the boss of the Federal Reserve – unless he is guilty of fraud.
The US President’s comments fuelled fresh speculation over Jerome Powell’s future.
Trump has been highly critical of the central bank chairman over his reluctance to cut interest rates more quickly.
This week he doubled down on his attack, describing Powell as a ‘stupid guy’ and a ‘knucklehead’.
Asked yesterday if he ruled out firing Powell, Trump said: ‘I don’t rule out anything but I think it’s highly unlikely unless he has to leave for fraud.’
That refers to an investigation into cost overruns on a near-£2billion Fed renovation project. When asked if it was a fireable offence Trump said: ‘I think it sort of is’.
Slurs: Donald Trump, left, has been highly critical of central bank chairman Jerome Powell, right, over his reluctance to cut interest rates
The comments came after Anna Paulina Luna, a Republican Congresswoman from Florida, wrote on X yesterday: ‘If Jerome doesn’t lower interest rates he is going to get fired.
‘Bookmark this. The ball is in Powell’s court. Lots of good and smart people asking for the job!’
On Tuesday, she said: ‘Hearing Jerome Powell is getting fired. From a very serious source.’
Trump reportedly discussed sacking Powell in a meeting with Congressional Republicans on Tuesday night.
But ousting Powell before his term as chairman ends in May next year would likely send shockwaves through financial markets.
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