Instant Reaction: Trump Reportedly Considers Firing Fed Chair Powell
Bloomberg Surveillance
Bloomberg
4 • 1.1K Ratings
🗓️ 16 July 2025
⏱️ 9 minutes
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Summary
President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the possible move in a meeting with congressional Republicans on Tuesday night.
While the lawmakers voiced support for the move, which would likely roil financial markets and lead to a consequential legal showdown, Trump has not made a final decision and could change his mind, according to the official who requested anonymity to discuss a private conversation.
In response to multiple similar reports, President Trump says his administration is “very concerned”, but “not planning on doing anything” about Fed Chair Jerome Powell.
Paul Sweeney and Lisa Mateo speak with Bloomberg's Chris Condon about the potential fallout.
See omnystudio.com/listener for privacy information.
Transcript
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| 0:31.1 | This is a breaking news update from Bloomberg. |
| 0:35.4 | Instant reaction and analysis from our 3,000 journalists and analysts around the world. |
| 0:41.9 | President Donald Trump is likely to fire. |
| 0:44.0 | Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the |
| 0:47.7 | possibility in a meeting with congressional Republicans on Tuesday night. |
| 0:52.0 | While the lawmakers' voice support for the move, which |
| 0:54.8 | were likely royal financial markets and lead to a consequential legal showdown, Trump has not |
| 0:59.9 | made a final decision and could change his mind, according to the official who requested |
| 1:04.4 | anonymity to discuss a private conversation. To get more on this, we go to Chris Condon, Bloomberg |
| 1:09.7 | Federal Reserve team leader. |
| 1:12.7 | Chris, has this happened before? |
| 1:14.5 | Has a president ever removed a Fed chief? |
| 1:17.1 | No, absolutely not. |
| 1:18.9 | Closest thing to this was in the 1970s. |
| 1:21.6 | Jimmy Carter didn't like his Fed Chief, |
| 1:23.5 | and so he gave him the job of Treasury Secretary, |
| 1:26.4 | which is not exactly firing somebody so no we have |
| 1:30.5 | not come anywhere really close to anything like this chris now this was announced during a meeting |
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