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Trump Discusses Firing Fed's Powell After Latest Rate Hike, Sources Say

  • Advisers warn ousting Fed chairman would lead to market rout
  • President’s legal authority to remove Powell is unclear
Jerome Powell

Jerome Powell

Photographer: Andrew Harrer/Bloomberg

President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate hike and months of stock-market losses, according to four people familiar with the matter.

Advisers close to Trump aren’t convinced he would move against Powell and are hoping that the president’s latest bout of anger will dissipate over the holidays, the people said on condition of anonymity. Some of Trump’s advisers have warned him that firing Powell would be a disastrous move.