Trump's USA Fed vs. inflation

"Billion-dollar bill could be Trump's trump card to get rid of Powell"

The renovation of the Federal Reserve's century-old headquarters could be Donald Trump's trump card to get rid of Fed Chairman Jerome Powell prematurely, reports SvD.

According to Trump's economic advisor Kevin Hassett, the bill, which was initially expected to cost 19 billion kronor, is now estimated at 25 billion, the newspaper writes, referring to an interview on the news program "ABC This Week on Sunday".

Jaret Seiberg, CEO of the investment bank TD Cowen, recently pointed out that "Team Trump is building a case to fire Federal Reserve Chairman Jerome Powell for failing to handle the renovation of the central bank's headquarters", reports CNN:

"We still see Powell leaving as unlikely, but the risk is increasing that the pressure from conservative media will be so great that the president feels forced to act". 

Trump denies: "Very unlikely"

Donald Trump denies media reports that he intends to fire Jerome Powell. Several media outlets are reporting this.

- We will not do it. It is very unlikely, Trump says during a press conference.

At the same time, Trump confirms that he has consulted with Republicans in Congress on the issue. According to Trump, the Republicans surveyed were more eager to fire Powell than he is.

Sources: Trump plans to fire Fed chief

US President Donald Trump will likely fire Federal Reserve Chairman Jerome Powell soon, according to a White House official. According to sources to several media outlets, the official outlined Trump's plans during a meeting with Republicans in Congress.

- The president asked lawmakers what they thought about firing the central bank chief. They expressed their approval. The president indicated that he will likely do it soon, a source tells CNBC.

According to the New York Times, Trump has written a draft of the formal dismissal of Powell.

Trump himself has denied that he intends to fire Powell and that he has written such a draft. However, Trump confirms that he has consulted with members of Congress about their attitude towards firing the Fed chief 

Democratic senator: Trump clearly wants to fire Powell

It is clear that President Donald Trump is trying to find a pretext to fire Fed Chairman Jerome Powell. Democratic senator Elizabeth Warren wrote on the social media platform Threads after Trump denied media reports that he had such plans.

In recent days, there have been reports that Trump has begun reviewing a major renovation project for the Federal Reserve's facilities in Washington.

"No one is fooled by President Trump's sudden interest in building maintenance," Warren wrote.