Trump asked lawmakers whether he should fire Powell, sources say he hinted he would act

According to multiple people directly familiar with the matter, Trump asked a group of House Republicans on Tuesday whether he should fire Federal Reserve Chairman Powell, and those present agreed. Several people said that Trump hinted that he would do so. There is no legal precedent for a president firing the Federal Reserve Chairman—federal law stipulates that the Federal Reserve Chairman can only be fired for "just cause." This move could have serious negative consequences for the financial markets. Government sources told CBS that Trump has mentioned the possibility of firing Powell for "just cause" in public and private remarks, but the White House has not formally established a legal basis. U.S. Representative Anna Paulina Luna of Florida (one of the Republicans who voted against advancing the cryptocurrency bill) posted on Tuesday evening local time: "Hearing that Powell is about to be fired! Source is very reliable." In a later post, she wrote: "I am 99% sure the firing is about to happen." (Golden Ten) [Odaily Planet Daily News]