Trump likely to fire Federal Reserve chairman soon?

United States President Donald Trump is open to the idea of firing Federal Reserve Chairman Jerome Powell, a source told Reuters today.

Trump polled some Republican lawmakers about firing Powell and received a positive response, the source said.

Bloomberg previously reported, citing an unnamed White House official, that Trump would likely fire Powell soon.

CBS also reported, citing multiple sources familiar with the matter, that Trump asked Republican lawmakers yesterday whether he should fire Powell, and that he indicated that he would do so, CBS News reported, citing multiple sources familiar with the matter, Reuters reports.

The meeting with members of the House of Representatives was held in the Oval Office of the White House on Tuesday evening, CBS reported.

Trump has repeatedly criticized the Federal Reserve's monetary policy in recent months, angered by the central bank's refusal to cut interest rates.

Fed officials have resisted cutting rates until it becomes clear whether Trump's tariffs on U.S. trading partners are fueling inflation again.

Trump has called on Powell to resign, but the president does not have the authority to fire him over a dispute over monetary policy.

Powell, who was nominated by Trump to head the Federal Reserve in late 2017 and then nominated for a second term by Democratic President Joseph Biden four years later, said he intends to serve out his term as Federal Reserve chief, which ends on May 15, 2026.

Last week, the White House intensified its criticism of the Federal Reserve's management when Office of Management and Budget Director Russell Votel sent a letter to Powell saying Trump was "extremely disturbed" by cost overruns in a $2,5 billion renovation of his historic headquarters in Washington.

Powell responded by asking the US central bank's inspector general to review the project.