Trump to try unprecedented move to fire Fed chairman: 'Debating it for months'

US President Donald Trump has reportedly been in private discussions for several months regarding the dismissal of Federal Reserve Chairman Jerome Powell.
On the 17th (local time), the Wall Street Journal (WSJ) cited sources as saying that President Trump's Florida mansion
The report said he had multiple discussions with former Fed Governor Kevin Wash at the Marrelago Resort about the possibility of removing Powell from his position early and appointing Wash as his successor.
The source said President Trump had not made a final decision on whether he would actually try to fire Powell before the end of his term.
The two men reportedly expressed their opposition, advising Chairman Powell that he would prefer to complete his term without outside interference.
The issue of firing Chairman Le was raised during a meeting with Italian Prime Minister Giorgia Merloni in the Oval Office of the White House on the same day, according to a source familiar with the matter.
When asked about Chairman Powell, he told the group, "If I tried to get rid of him, he would resign in a moment," and added, "It's too late for him. I don't think he's doing his job."
According to the WSJ, despite objections from Treasury Secretary Scott Bessent, some advisers believe that the U.S. government and Wall Street view the Fed's independence as too sacred.
They are calling for a replacement, saying he is not helping the economy. Powell's term ends in May 2026, and according to the Federal Reserve Act, which provides the basis for the Fed's existence,
The Fed chairman can only be removed for cause. Any attempt to remove the Fed chairman before the end of his four-year term would also be unprecedented.
Therefore, if President Trump moves to dismiss Chairman Powell,
The WSJ predicted that the case was likely to go all the way to the Supreme Court. The Journal said, "This could lead to continued political wrangling for Powell's successor, and there is concern that the Fed chairman could be fired over policy disagreements."
"The possibility of a large-scale earthquake occurring could send a significant shock wave through financial markets," he said.