Overview

• Trump said he had considered removing Jerome Powell, calling him a poor performer before labeling any dismissal “very improbable.”
• He pointed to the Fed’s $2.5 billion Washington headquarters renovation as a misuse of federal funds that could justify leadership change.
• Financial markets briefly wobbled after his remarks, with the dollar sliding about 1 percent against the euro and U.S. Treasury yields rising.
• U.S. law requires proof of “grave fault” to remove a Fed chair, a safeguard designed to maintain central bank independence.
• Powell remains in office and the Fed has kept its key rate at 4.25–4.50 percent as Trump continues to press for substantial cuts.