The Threat to Fire Jerome Powell Is Getting Real

“President Trump’s war on the Federal Reserve is taking a more concrete, legally actionable form — putting the central bank’s independence in the crosshairs,” Axios reports.

“For months, Trump’s exasperation with Fed chair Jerome Powell over not cutting interest rates has taken the form of increasingly angry comments and social media posts. That pressure has entered a new phase that, if successful, could shock the global financial system.”

“Trump’s appointees are trying to lay out legal predicates to fire Powell for cause — specifically, that the Fed’s $2.5 billion headquarters renovation project has included changes not approved by a federal planning authority, and/or that Powell lied to Congress about the project.”