United States President Donald Trump discussed the resignation of Federal Reserve Chair Private Jerome Powell for months and talked about it with former US Central Bank director Kevin Warsh including the possibility of selecting him as Powell replacement, the Wall Street Journal reported on Thursday.
Warsh advised against the attempt to fire Powell, arguing that he should let the Fed Chair complete his mandate without interference, said the vehicle, citing unidentified sources familiar with the matter.
The report was published on the same day that, whose mandate as head of the Fed expires in May 2026.
Warsh served as director of the Fed from February 2006 to April 2011. He was appointed by President George W. Bush.
WSJ said the discussions with Warsh took place on Trump’s property in Mar-Lago, Florida in February, but other people close to the president discussed the matter in March.
Trump has not yet made a final decision on the possibility of trying to fire Powell before the end of his term, an issue that would probably be challenged until he reached the US Supreme Court.
The 1913 Law that instituted the Federal Reserve stipulates that Fed leaders can only be fired “for just cause,” and Powell himself said his resignation would not be “permitted by law.”
The White House did not immediately respond to a request for comment. There was no immediate response to Reuters emails and Warsh calls to comment on the subject.
