Trump repudiates draft letter to fire US Fed chair Powell
2025-07-17 09:44:37 source：The Aljazeera
July 16, 2025
United States President Donald Trump has denied plans to fire US Federal Reserve Chair Jerome Powell, after media reports that the president is likely to do so soon triggered a drop in stocks and the dollar, and a rise in Treasury yields. Such reports are not true, Trump said on Wednesday.
“I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5bn renovation of the Fed’s historic headquarters in Washington, DC.
Stocks pared losses and Treasury yields pared declines after Trump’s comments, which also included a now-familiar barrage of criticism against the Fed chair for not cutting interest rates, calling him a “terrible” chair.
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