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On a tense Wednesday afternoon in the Oval Office, President Donald Trump stirred controversy by consulting Republican lawmakers on a drastic potential action: firing Federal Reserve Chairman Jerome Powell. Sources familiar with the closed-door meeting revealed that Trump directly asked House members for their opinions on removing the central bank’s leader, signaling a possible shakeup in the nation’s economic leadership.
The discussion sent shockwaves through financial markets, with the US Dollar facing immediate selling pressure. By mid-afternoon, the USD Index had dropped 0.55% to 98.10, reflecting investor unease over the prospect of such a high-stakes decision. Trump’s inquiry raises questions about the independence of the Federal Reserve, an institution traditionally insulated from political interference.
This development underscores ongoing tensions between the president and the Federal Reserve, as Trump has frequently criticized Powell’s monetary policies. Whether this meeting foreshadows an unprecedented move or merely serves as a strategic discussion remains uncertain, but the implications for economic stability and market confidence are profound.
