President Trump said that he is unlikely to fire Fed Chair Jerome Powell unless there is confirmed evidence of fraud.
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“I don’t rule out anything. But 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, $2.7B renovation,” said Trump at the White House on Wednesday. He also denied previous reports that he had already penned a draft of a letter to remove Powell.
Trump Discusses Powell’s Removal with House Republicans
However, Trump did confirm reports that he held a meeting with roughly a dozen House Republicans on Tuesday to discuss Powell’s removal. He polled the group on whether he should fire Powell with the majority voting “yes.”
Powell’s $2.5 billion renovation of the Fed’s Washington, D.C. headquarters has generated quite a bit of controversy because of its exorbitant price tag. Earlier this month, Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), called for a Congressional investigation of Powell, accusing him of lying to Congress about the renovation’s details.
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