Trump admin studying option to fire independent finance chief, White House confirms

US PRESIDENT DONALD Trump and his administration are studying whether dismissing the independent chief of the Federal Reserve is an option, one of his top White House aides has said.

It comes two days after Fed chair Jerome Powell warned that Trump’s sweeping tariffs would likely push up prices and constrain economic growth, and could put the US central bank in the unenviable position of having to choose between tackling inflation and unemployment.

“The president and his team will continue to study that matter,” National Economic Council director Kevin Hassett told reporters when asked if firing the central bank chief was a possibility, one day after Trump lashed out at him.

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The US president does not have direct authority to fire Federal Reserve governors, but Trump could initiate a lengthy process to attempt to unseat Powell by proving there was “cause” to do so.

Trump has frequently criticized the Fed chairman, whom he originally nominated during his first term, accusing Powell of playing politics.

Yesterday, the Republican president insisted that he could force Powell out.

“I’m not happy with him. I let him know it and if I want him out, he’ll be out of there real fast, believe me,” Trump said.

– © AFP2025