Trump Eyes Legal Loophole to Oust Fed Chair Powell Amid Cost Overruns
President Trump is exploring a controversial path to remove Federal Reserve Chairman Jerome Powell, citing runaway renovation costs as a pretext. This move threatens the independence of the Fed and raises alarming questions about politicizing America’s monetary policy—an action that could destabilize markets and harm hardworking American families.
As Washington grapples with outsized federal spending, President Donald Trump sees an opening in the ballooning costs of refurbishing the Federal Reserve's headquarters—a project whose price tag has surged from $1.9 billion to nearly $2.5 billion. What began as a routine upgrade now serves as potential grounds for challenging Jerome Powell’s leadership at the Fed. Is This a Justified Reckoning or Political Maneuvering? The law clearly states that Federal Reserve Governors, including its chairman, can only be removed "for cause"—such as gross negligence or misconduct—not simply because of policy disagreements. Yet, Trump's administration is inching dangerously close to weaponizing alleged...
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