President Trump has told top GOP lawmakers he will likely fire Fed Chair Jerome Powell, two sources briefed on the matter told The Post.
The sources confirmed an earlier report by Bloomberg News, citing sources familiar with the matter, which said Trump discussed the plan with GOP lawmakers in Congress on Tuesday.
An administration insider close to the commander-in-chief, speaking on the condition of anonymity, confirmed the nature of those talks to The Post with congressional Republicans.
“They expressed approval for firing him. The President indicated he likely will soon,” the source said.
The news comes as Powell came under fire for refusing to cut interest rates despite Trump’s relentless demands.
It also comes after what one senior administration official branded a “deceptive” testimony to the Senate Banking Committee on June 25 about the central bank’s $2.5 billion “Palace of Versailles” revamp of its DC headquarters.
Powell, facing questioning by GOP lawmakers including Senate Banking Committee Chairman Tim Scott, denied noti.group’s exclusive reporting about the lavish renovations to the Fed’s offices.
The 72-year-old trashed this newspaper’s coverage of the scandal as “misleading and inaccurate” despite directly contradicting the project’s own planning documents that were signed off in 2021.
A separate administration official told The Post that White House counsel believes the Fed broke DC planning regulations by not submitting any revisions to the National Capital Planning Commission.
A White House spokesman declined to comment. The Post has approached a spokesman for the Federal Reserve for comment.
This is a breaking news story. Please check back for updates.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
