Trump, Powell and Fed
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President Donald Trump signed the HALT Fentanyl Act, which aims to combat the fentanyl crisis into law, during an event in the East Room of the White House. Trump was accompanied by various lawmakers and family members who have lost loved ones to the epidemic.
The Federal Reserve is an independent organization, meant to be insulated from politics, and the Supreme Court suggested this year that President Donald Trump would need a reason, or cause, to fire Federal Reserve Chairman Jerome Powell.
President Trump denied he plans to fire Federal Reserve chairman Jerome Powell after telling Republican lawmakers he would likely make the move.
1don MSN
President Trump asked a group of Republican lawmakers how they felt about him firing Federal Reserve Chair Jerome Powell and told them he would "likely" fire Powell "soon," according to two White House officials and sources familiar with the Tuesday evening meeting.
The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.
The Trump administration is formally arguing before a federal oversight body that it has unilateral authority to fire many federal employees at any time, seeking to unwind decades of precedent and current federal law.
U.S. President Donald Trump signed an executive order on Thursday creating a new classification of non-career federal workers who can more easily be fired if they fail to carry out a president's priorities,
The president may try to terminate the Fed chair’s tenure early. But whether Trump has the ability to do so isn’t clear.