Trump Told GOP Lawmakers He Will Fire Fed Chair

“President Donald Trump told a room full of Republican lawmakers that he will fire Federal Reseve Chairman Jerome Powell, after receiving approval from them to make the move,” CNBC reports.

The New York Times says Trump showed off a draft of a letter firing the Fed chair to the lawmakers.

CBS News: “The idea of a president removing a Fed chair is legally untested — federal law says the chair can only be fired ‘for cause.’ The action could have serious negative effects on financial markets.”