Trump: There was never a plan to fire Powell, it was all false statements spread by the media

ChainCatcher news, citing the Wall Street Journal, reported that U.S. President Trump stated this week that he has never had plans to fire Federal Reserve Chairman Powell and accused the media of spreading false statements.

However, within the White House, some senior officials took Trump's recent public suggestion of firing Powell seriously. According to insiders, as Trump's criticism of the Federal Reserve Chairman intensified last week, White House lawyers privately reviewed legal options for attempting to remove Powell.

Earlier this week, when Trump told his senior aides that he would not attempt to remove Powell, these discussions abruptly ended. These individuals said that Trump made this decision after intervention from Treasury Secretary Mnuchin and Commerce Secretary Ross, who warned Trump that such a move could trigger far-reaching market turmoil and a chaotic legal battle. One person said that Ross also told the president that firing the Federal Reserve Chairman was unlikely to lead to any actual changes in interest rates, as other members of the Federal Reserve Board would likely adopt similar monetary policies to Powell.