Washington CNN —
President Donald Trump has blasted Federal Reserve Chair Jerome Powell for months for not lowering interest rates, even threatening to fire the central banker.
Now, the White House is seizing on a $2.5 billion renovation of the Fed’s headquarters in Washington, DC, as a potential legal opening to fire Powell as Trump calls for supersized rate cuts. The president said last week that it’s “highly unlikely” he will try to fire Powell, but he left the door open “for fraud.”
Firing Powell would be an unprecedented move in the central bank’s
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