Jerome Powell stated that if Trump tries to fire him, he will sue. The Fed is ready for a legal battle to defend the independence of its chairman 🏛️

Jerome Powell stated that if Donald Trump tries to fire him, he will sue. Powell emphasized that the Chairman of the Federal Reserve cannot be removed for political reasons. The conflict between them began in 2018 when Trump wanted to lower interest rates, but Powell refused. Now, with Trump returning to the White House, this issue is relevant again, despite Trump not announcing any intention to fire Powell.