President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.
The mixed messages come as the administration has sought to build maximum pressure on the chair, whom Trump would very much like out of his job, even if he’s reluctant to decree his termination.
When asked if he has completely ruled out firing Powell, Trump told reporters in the Oval Office that he never rules anything out but it was “highly unlikely.”
But he offered an important caveat: “Unless he has to leave for fraud.”
Behind closed doors, the president has seemed more intent on axing the chair, who’s been a frequent target of his ire, particularly for not lowering interest rates fast enough.
In a meeting with lawmakers on Tuesday, he polled them about whether he should fire Powell, a senior White House official told CNN. And he told them that he was going to fire him – maybe Wednesday – pointing to the $2.5 billion renovation plan at the Federal Reserve building, which he claimed he was not happy about, according to a source briefed on the president’s remarks in the meeting.
He even gestured toward a document he said was a letter firing Powell, according to a person in the room.
Another person familiar with the meeting said Trump appeared intent on getting rid of Powell and was enthused by the reception from the lawmakers who were encouraging him to fire the chair.
Trump confirmed to reporters on Wednesday that he’d asked lawmakers about the “concept” of firing Powell, saying the ones he asked were largely in favor. But he called reports that he planned to fire Powell “not true.”
Trump on Tuesday evening had suggested the building renovation plan might be sufficient cause to fire Powell — an escalation of his criticism of the Fed chair.
But multiple sources said that it was unclear that anything was imminent in terms of firing. Trump has often made threats behind closed doors that he intends to fire individuals, including Powell.
“He’s just toying with the idea right now,” another White House official noted.
This is a developing story and will be updated.
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