On Wednesday, Axios revealed that President Donald Trump considered firing Federal Reserve chairman Jerome Powell and replacing him with Kevin Warsh, a conservative former Fed governor and aide in President George W. Bush's administration:
Trump talks about the appointment of Powell as one of the great mistakes of his administration, and wanted to fire him late last year. Trump often privately compares Powell to a golfer who has no "feel" for the game, and has told aides Powell poses the greatest threat to the U.S. economy.
Trump specifically resents how Powell has tightened interest rates, a counter-inflationary measure that slows spending and economic growth — and has been vocal about it, despite the generally accepted tradition of presidents leaving the Fed alone and letting it make decisions without political interference.
More recently, the president has resigned himself to the fact that the Federal Reserve chairman cannot be fired for political reasons, saying of Powell, "I guess I'm stuck with you."
Trump appointed Powell to replace Janet Yellen in 2018.