By Admin 
US President Donald Trump may soon dismiss Jerome Pavel, chairman of the US Central Bank of Federal Reserve, such reports are coming out. In a meeting with Republican MPs at the Oval Office of the White House on Tuesday evening, he said that he can remove Fed Reserve President Jerome Pavel from his post. However, later Trump refused to say anything like this.
Trump drafts a letter
In this meeting to discuss the Crypto Regulation Bill, Trump asked the MPs whether they feel that they should dismiss Powell. According to a White House official, after getting the consent of everyone, Trump talked about implementing it.
The New York Times report said that Trump has also dragged a letter regarding Pavel’s dismissal. However, a few hours after this meeting, on Wednesday, Trump said in the White House, we do not have a plan to do anything like this. I do not deny any possibility, but the possibility of this is very little, as long as they have to leave the post due to a fraud.
Pavel was chosen by Trump
Powell was first nominated by Trump in 2017. Then in 2021, Biden’s government extended another term of him. He will retire from the post of President of Fed Reserve on May 2026. Trump is upset with Pavel for not cutting interest rates. Now the question comes whether Trump has the right to remove Powell? The answer is not.
The Federal Reserve Act of 1913 states that Fed Governors are appointed by the President and with the advice and consent of the Senate, he is selected for a four -year tenure. The President has no legal right to remove the Fed Chairman. However, he can try to remove them by proving some reason. Let us know that recently, Trump’s government had accused Powell of misguided of $ 2.5 billion renovation project in the Fed.
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