As Donald Trump openly toys with firing Federal Reserve Chair Jerome Powell — despite having appointed him — Republicans and Democrats are sharply divided over whether the president has the authority or wisdom to do so. Rep. Doug LaMalfa (R‑CA) admitted he’s “not a super‑duper financial expert” but said Powell’s approach to interest rates frustrates him, while Sen. Bernie Moreno (R‑OH) declared Powell “absolutely needs to go.” Economists and Democrats warn that meddling with the Fed could spark chaos, inflation, and a Wall Street meltdown, but Trump allies argue that Powell’s policies have hurt the economy and that precedent gives the president wide latitude to act.
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