Pres. Trump may not fire Fed Chair Powell

WASHINGTON (Gray DC) - President Donald Trump is rejecting reports that he’s attempting to fire Federal Reserve Chairman Jerome Powell. The Fed Chair has been in the president’s “bad books” for months.

For months, President Donald Trump has criticized Federal Reserve Chairman Jerome Powell and the Fed’s decision to not lower interest rates. Powell was appointed Federal Reserve Chairman by Trump during his first term.

Wednesday the President denied that he’s attempting to fire Powell.

The president has hammered Powell relentlessly for dragging his feet dragging his feet on interest rate cuts.

“He’s a knucklehead.”

But in the Oval Office Wednesday with the Crown Prince of Bahrain by his side – he ruled out – for now – firing the leader of the Central Bank.

“I don’t rule out anything, but I think it’s highly unlikely. Unless he has to leave for fraud.”

The alleged fraud relates to suggestions by the President that the central bank is spending too much money on renovations on two Fed office buildings.

Just a day ago the President gave White House correspondent Jon Decker a four word answer to the question of whether he would consider appointing Powell whose term expires in May to another four year term.

“You must be kidding.”

Powell has stuck to his position that his mandate is to keep unemployment rates low and inflation rates around 2%.

The Supreme Court earlier this year ruled that the Fed Chair can only be removed “for cause,” such as malfeasance or dereliction of duty.

President Trump says he has several candidates already lined up to replace Powell next year, including his chief economic advisor Kevin Hassett.