A White House official claimed President Donald Trump plans to fire Federal Reserve Chairman Jerome Powell, Bloomberg reported Wednesday
"While the lawmakers voiced support for the move, which would likely roil financial markets and lead to a consequential legal showdown, Trump has not made a final decision and could change his mind, according to the official who requested anonymity to discuss a private conversation," said Bloomberg.
The markets immediately reacted with the Dow Jones falling. Bloomberg noted the "S&P 500 quickly erased a modest gain and was down 0.4% as of 11:22 a.m. in New York, about 1% below its all-time high."
Speaking to the press from the Oval Office, Trump falsely claimed that former President Joe Biden was the one responsible for putting Powell "in" his office. Trump appointed Powell in 2017.
When reporters asked him whether he would fire Powell, Trump didn't give a direct answer, attacking the chairman and the panel of governors. He said that he "could" do it and noted that he spoke to Republican lawmakers about the matter on Tuesday night and that they sent their support.
Trump also alleged that "there's possible fraud" that Powell is involved in over the renovation of the hundred-year-old building.
A reporter asked again to confirm whether it's ruled it out completely.
"I think it's highly unlikely unless he has to leave for fraud. I mean, it's possible there's fraud involved with the 2.5, $2.7 billion renovation. This is a renovation. How do you spend $2.7 billion?" asked Trump.
"And he didn't have proper clearance, et cetera. et cetera. So, you know, that's going on. So, you know, there could be something to that. But I think he's not doing a good job. He's got a very easy job to do. You know what he has to do? Lower interest rates."
See the clip below or at the link here.
- YouTube youtu.be
